Glu Generates $2.7 Million In Cash In Q3; Will Launch Social Games
mocoNews Nov 03 09
Glu Mobile (NSDQ: GLUU), the San Mateo, Calif.-based mobile games company, said the company continues to work on turning the business around and achieved its second consecutive quarter of generating cash. The company generated an all-time high of $2.7 million in cash during Q3, ending the period with nearly $10 million in reserves.
Glu said that next generation platforms, like the iPhone and Android, are starting to pick up with revenues from those totaling about $500,000 in Q3. It expects those revenues to double next quarter, comprising a total of 5 percent of all revenues. Full story...
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