Yahoo Finance Today’s Research Reports on Stocks to Watch: Glu Mobile and Zynga
NEW YORK, NY / ACCESSWIRE / February 12, 2018 / While the market rebounded on Friday and closed in the green, two stocks that did not feel the gains were Zynga and Glu Mobile. Zynga and Glu Mobile were two of the worst performers in Friday trading after earnings concerns.
RDI Initiates Coverage on:
Glu Mobile Inc.
https://rdinvesting.com/news/?ticker=GLUU
Zynga Inc.
https://rdinvesting.com/news/?ticker=ZNGA
Glu Mobile's shares closed down 4.97% on about 4.8 million shares traded on Friday. The mobile-device games maker saw losses of almost 12% in early morning trading after its earnings report. Glu Mobile reported a loss of $39.6 million in the fourth quarter. Adjusted EPS came to a loss of 14 cents per share, missing analysts' expectations of a loss of 3 cents a share. Adjusted revenue at $83.2 million was ahead of the $78.5 million analysts were waiting for however. For the full year, Glu Mobile reported a loss of 72 cents per share and revenue of $320.4 million. For the current quarter the company has forecast revenue in the range of $72 million to $74 million and for the full year expects revenue in the range of $325 million to $335 million. While the numbers were dismal, Glu CEO Nick Earl was optimistic and said that "fourth quarter performance ... capped off a historic year for Glu." Sales grew 73% during the fourth quarter compared to the year ago quarter.
Access RDI's Glu Mobile Inc. Research Report at:
https://rdinvesting.com/news/?ticker=GLUU
Zynga's shares closed down 5.16% on about 35.4 million shares traded this past Friday. Shares took a dive after traders became nervous after the company's quarterly earnings report earlier in the week. Though the stock initially saw gains after Zynga reported record mobile revenue and bookings, things became concerning after investors wondered if the company could sustain this growth. For the quarter, Zynga posted GAPP earnings of 1 cent per share. In the year ago quarter this number was a 4 cent loss. Analysts had been expecting earnings of 2 cents per share. Revenue at $233.3 million was an increase of 22.4% from the year ago quarter and it was the best performance since Q1 in 2013. Mobile revenue increased almost 32% to $203.6 million and mobile bookings were up 18% at $197 million. Looking ahead the company is expecting revenues of $200 million and bookings of $210 million for the first quarter. Analysts are waiting for $227.2 million in revenue.
Access RDI's Zynga Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ZNGA
Our Actionable Research on Glu Mobile Inc. (NASDAQ: GLUU) and Zynga Inc. (NASDAQ: ZNGA) be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
