$15.5m in Q3 and a net loss of $1.6m.
Mobile games publisher Glu Mobile has reported its Q3 financials, revealing revenues of $15.5 million, and a net loss of $1.6 million for the quarter.
That compares to revenues of $19.6 million in Q3 2009, when the publisher reported a net loss of $4 million.
Glu ended Q3 with $15.9 million of cash and cash equivalents, having secured a private placement of $13.5 million during the quarter.
CEO Niccolo de Masi highlights growth in Glu's smartphone portfolio during the quarter.
"During the third quarter, we were able to sequentially grow smartphone revenues by 12%, micro-transactions and in-game advertising by 98% as well as monthly active users by 15%," he says.
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"With our goal of launching five to six new social, persistent titles every quarter beginning in the fourth quarter of 2010, I am cautiously optimistic that our smartphone and tablet revenue growth will accelerate in 2011," said de Masi.
Those efforts will be boosted by a new board appointment: Ben Smith. He was one of the earliest investors in iPhone music games developer Tapulous.
