Shares of Glu Mobile Inc. (NASDAQ:GLUU) ended Tuesday session in green amid volatile trading. The shares closed up +0.02 points or 0.86% at $2.34 with 1.08 million shares getting traded. Post opening the session at $2.34, the shares hit an intraday low of $2.30 and an intraday high of $2.35 and the price vacillated in this range throughout the day. The company has a market cap of $313.92 million and the numbers of outstanding shares have been calculated to be 133.00 million shares.
Glu Mobile Inc. (GLUU) on August 3, 2016 announced financial results for its second quarter ended June 30, 2016.
Second Quarter 2016 Financial Highlights:
- Revenue: Total revenue was $48.4 million in the second quarter of 2016 compared to $56.2 million in the second quarter of 2015.
- Bookings: Total Bookings were $50.9 million in the second quarter of 2016, compared to $57.5 million in the second quarter of 2015. Bookings do not reflect the deferral of certain game revenue that Glu recognizes over the estimated useful lives of paying users of Glu’s games and excludes changes in deferred revenue and litigation settlement proceeds. Glu’s presentation of Bookings is consistent with Glu’s previous disclosure of non-GAAP revenue.
- Gross Margin: Gross margin was 57% in the second quarter of 2016 compared to 58% in the second quarter of 2015. Adjusted gross margin was 63% in the second quarter of 2016, consistent with the second quarter of 2015. Adjusted gross margin, which is consistent with Glu’s previous disclosure of non-GAAP gross margin, excludes changes in deferred revenue and litigation settlement proceeds, change in deferred cost of revenue, amortization of intangible assets and non-cash warrant expense.
- Operating Loss: Operating loss was $(13.5) million in the second quarter of 2016 compared to a loss of $(6.1) million in the second quarter of 2015.
- Adjusted Operating Income/(Loss): Adjusted operating loss was $(3.9) million in the second quarter of 2016 compared to income of $1.0 million during the second quarter of 2015. Adjusted operating income/(loss), which is consistent with Glu’s prior disclosure of non-GAAP operating income/(loss), excludes changes in deferred revenue and deferred cost of revenue, amortization of intangible assets, non-cash warrant expense, stock-based compensation expense, restructuring charges, transitional costs and litigation costs and settlement proceeds.
“Our ability to exceed expectations in the quarter was driven by the strong Tap Sports Baseball 2016 launch as well as the ongoing success of Cooking Dash 2016, Kim Kardashian: Hollywood and Racing Rivals,” stated Niccolo de Masi, Chairman and Chief Executive Officer of Glu.
De Masi continues, “We believe there is significant latent revenue potential in our genre-leading live games. By learning from Tencent and deepening monetization of our biggest spenders and most engaged players, we anticipate it being possible to not only arrest catalogue declines, but reverse them. Our goal is to achieve profitability from our catalogue Bookings alone by the end of 2017.
“Over the past 6.5 years Glu has shipped over 85 games. Having built a diversified portfolio of genre-leaders, we now intend to double down on turning them into evergreen revenue generators. Henceforth we shall prioritize adding new modes, systems and community-enhancing features to our existing games to evolve them into evergreen games. We believe this new focus will allow us to grow Bookings significantly in the first half of 2017 and beyond.
Shares of Zayo Group Holdings Inc (NYSE:ZAYO) ended Tuesday session in green amid volatile trading. The shares closed up +0.46 points or 1.57% at $29.81 with 2.87 million shares getting traded. Post opening the session at $29.30, the shares hit an intraday low of $29.30 and an intraday high of $29.81 and the price vacillated in this range throughout the day. The company has a market cap of $7.30 billion and the numbers of outstanding shares have been calculated to be 242.65 million shares.
On September 6, 2016 Zayo Group Holdings, Inc. (ZAYO) has signed its largest mobile infrastructure contract to date. Zayo will upgrade and expand the customer’s fiber-to-the-tower (FTT) network, which includes dark fiber to more than 1,800 cell sites in 26 markets across the U.S.
The deployment will leverage Zayo’s existing FTT networks in 20 markets. Additionally, the award represents follow-on sales to Zayo’s recently announced network expansions that are in progress. Finally, the solution results in the introduction of FTT in six Zayo markets by leveraging existing dense metro dark fiber.
“Close collaboration between Zayo and our customer resulted in a solution that achieved a low price per site for our customer and strong financial outcome for Zayo,” said Dan Caruso, chairman and CEO of Zayo. “Zayo believes the opportunity in these markets is far greater than the scope of this initial award, and the buildout will provide the scaffolding for serving broader requirements in the coming years.”
With this expansion, Zayo’s FTT network will surpasses an estimated 10,000 cell sites nationwide, including those under construction. Zayo continues to play a critical role in addressing wireless service providers’ needs for high-capacity communications infrastructure for macro towers and small cell nodes.
“The power of second tenant economics is demonstrated through this award, including where the other tenants are from a variety of verticals, such as content providers, technology companies, traditional enterprises and school districts,” added Chris Morley, chief operating officer at Zayo. “The financial merits of a multi-tenant platform will become even more compelling as wireless carriers move toward small cell, 5G and CRAN.”