Glu Mobile (GLUU) Shares Plummet

Shares of mobile phone game maker Glu Mobile, Inc. (Nasdaq: GLUU) fell more than 5% during the trading day and gained momentum during after hours trading.

Glu Mobile Inc. reported a 4th quarter loss of $6.9 million, or 23 cents per share, compared to a loss of $37.2 million, or $1.26 per share, for the same quarter one year ago.

Glu Mobile Inc. reported that revenue for the quarter ended in December fell to $19.1 million from $21.6 million.

That was far below the average analyst estimate of earnings of 1 cent per share and $19.9 million of revenue that a poll by Thomson Reuters forecast.

The shares ended the trading day at $1.25, then proceeded to fall as low as $1.08 in after hours trading.