Glu Mobile revenue reaches $81.1 million in third quarter financials
Design Home drives 58% year-on-year growth for mobile developer
Shares of Glu Mobile have more than doubled in 2017, and the latest financial report puts the firm in a strong position following the third quarter.
Revenue reached $81.1 million, up from $51.1 million, amounting to a year-on-year growth of 58%.
Gross profits reached $49.4 million, up from a loss of $4.6 million over the same period last year.
Glu's flagship mobile game Design Home now enjoys one million daily active users, and has more than 8.7 million downloads this quarter, generating $30.2 million in bookings.
Additionally, Design Home was ranked 34 in the Top Free, and 15 in the Top Grossing game in the US App store for iPhone. It also performed well on Android, reaching 48 in Top Free and 29 in Top Grossing in the US Google Play Store.
Glu Mobile CEO Nick Earl said: "Our strong operating performance in the quarter and year to date reflects our creative culture and better than expected results from our portfolio of growth and evergreen titles. Design Home continues to be a strong growth driver and demonstrates Glu's ability to combine our scaled operations and user acquisition strategy with quality IP."
The firm has posted "better than expected" financial results each quarter in this year. Eric R. Ludwig, COO and CFO, attributed the results to the success of Design Home and "overperformance by several of our evergreen titles."
Glu Mobile's full financials can be found here.