57 per cent of Glu revenue is from smartphones

Games publisher proclaims success of switch away from feature phones - but still makes a loss.

Glu posted a total GAAP revenue of $16.9 million compared to $15.5 million a year ago. The firm says it has 22m monthly active users.

Total smartphone revenues hit $9.7 million to account for 57 per cent of total GAAP revenues. Freemium revenue such as in-game ads increased significantly to $8.1 million from $565,000 last year, according to the results.

Glu's biggest titles include Gun Bros and Contract Killer, which are said to have generated around $11m between them this year.

All very positive, but as expected, the company made a net loss of $6.2 million, compared to a loss of $1.6 million a year ago. Much of this was caused by the cost of acquiring two games studios: Griptonite Games and Blammo Games.

Niccolo de Masi, CEO, Glu, said: "We are pleased with our strong third quarter results, especially in our ability to maintain momentum in smartphone revenue growth and simultaneously expand gross margins.