Boston, MA 10/01/2013 (wallstreetpr) – Glu Mobile Inc. (NASDAQ:GLUU) has been courting some positive press for the past few weeks. It has outperformed its peers at the browsers in the past week and has to its credit major mobile game releases like “Deer Hunter’14”which has earned it Top rankings among major apps and games developing companies this month.
Deer Hunter races to the top of the app charts
On September 25, the company released user and revenue statistics for its “Deer Hunter 2014” game application which was launched on September 18 for Smartphone and tablet users who are on iOS and Mac platforms. The highlights included more than 5 million downloads of the game in the first 7 seven days of launch and a over 18 million game play sessions in a single day. It was also ranked as the #1 top free gaming app in over 78 countries in the past few weeks.
New revenue generation model
In addition to new users getting attracted to its latest launch, the company has been able to generate revenue from the app. Niccolo de Masi, Glu CEO has credited this revenue generation uptake to them implementing a “recently developed games-as-a-service and monetization strategy”. Glu has released DeerHunter apps for android users on September 25 and hopes to grow its revenue intake from this application even further.
The company hopes to sustain and grow the potential of this business model further by launching new titles of applications and games in the reminder of this calendar year. The free to download game developer has a market capitalization of $194 million with annual sales of $101 million over past 12 months trailing period. It has 516 employees and boasts annual gross margins of 66% for the past 12 months. A total of 69.8 million shares outstanding makes up the company stock which has seen an 18% appreciation in value over the past 90 days.