Earnings: Glu Mobile’s Q3 Loss Widens; New Platforms Aren’t Enough To Dig Out Of Economic Problems

imageGlu (NSDQ: GLUU) reported Q3 revenue of $23.9 million, a 44 percent jump compared to the $16.7 million recorded in the year-ago period. However, the company’s net loss ballooned to $56.9 million, or $1.93 a share, from $800,000 or three cents a share in the same period last year. Profits were negatively affected by a $1.9 million charge related to certain royalty guarantees. The company said new platforms, such as the iPhone and Android provide hope, but that they didn’t help the company outperform during the poor economy.

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