Mobile games publisher Glu Mobile Inc. reported improvements in both revenues and earnings for the first quarter, news that appeared to please the company’s investors. Glu’s stock was up almost 2% after the news to around $11.67 per share.
Glu reported revenue of $15.7 million for the first quarter, nearly double revenues of $8.1 million during the first quarter of 2006.
Net loss for the quarter totaled $764,000, an improvement from a loss of $3.5 million reported during the first quarter of last year.
Glu said its average revenue per top-10 title was $890,000 during the quarter. The company noted its top 10 titles accounted for 57% of its first-quarter revenue.
Glu completed its initial public offering during the quarter, generating net proceeds of $75 million.
The company expects revenues of between $16.1 million and $16.6 million for the second quarter and a net loss of between $1 million and $1.5 million.
Glu shows financial gains following IPO
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What infra upgrades are needed to handle AI energy spikes?
AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants
AI infra brief: Power struggles behind AI growth
The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants