Dallas, TX 5/5/2011 (PennyPayDay) -- In a press release today, MicroStockProfit.com announced an investment report featuring Glu Mobile Inc. (Nasdaq:GLUU). I do not think this press release and investment report had the intended effect because, as I write, shares of GLUU are down 3 percent at $3.93 per share on light volume of 174,000 shares compared to its average daily volume of more than 2 million shares.Glu Mobile (GLUU) is a global publisher of 3D Social Mobile games for smartphone and tablet devices. Its unique technology platform enables its titles to be accessible to a broad audience of consumers all over the world - supporting iOS, Android, Palm, Windows Phone 7 devices and beyond. The Company is focused on bringing the best in social, freemium, cross-platform mobile gaming experiences to the mass market, and on creating compelling original IP. It has partnership with leading entertainment brands including Activision, Atari, Caesar's and Fox.
In the report, the analyst notes:
"In the first quarter, the Company lost $3.2 million, or $(0.06) a share, narrowing the year-ago quarter loss of $3.7 million, or $(0.12). Excluding items, net loss was $(0.02) a share, compared to an ex-item net loss of $(0.03) a share in the year-ago period. Analysts polled by Thomson Reuters expected a loss of $(0.07) a share."
"During the quarter, GLUU saw total revenue of $16.4 million, down 5% from $17.3 million in the same period last year, but still ahead of analyst expectations of $14.1 million."
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