Why Glu Mobile Stock Dropped 13% After Earnings

Why Glu Mobile Stock Dropped 13% After Earnings

Shares of mobile games-maker Glu Mobile (NASDAQ: GLUU) dropped sharply on their first day of trading following fiscal second-quarter earnings yesterday evening, falling 13.1% through 1:30 p.m. EDT. Analysts had forecast that Glu would report a profit of $0.08 per share for the quarter and revenue of $165.3 million. As it turned out, Glu missed on both points.