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Glu revenues up, and thanks to  Kardashian , it's raising guidance
Glu revenues up, and thanks to Kardashian, it's raising guidance
July 30, 2014 | By Christian Nutt

Another quarter of increased revenues for Glu Mobile: the Kim Kardashian: Hollywood maker saw them jump 51 percent for the quarter ending June 30, 2014, to $35 million -- as compared to $23.2 the same quarter of the prior year.

But the company still made a loss for the quarter: $3.7 million, down from $6 million, year-on-year. It made a very narrow profit last quarter.

The company's big hit, Kim Kardashian: Hollywood, has caused quite a stir since its release, with one analyst betting it'll generate $225 million in revenue for the company's current fiscal year.

The company is optimistic about its future success on the back of Kardashian, saying that it expects record revenue for the next quarter (which is in line with that analyst's projection of around $78 million for the period.) And for the year, the company is now expecting revenue between $222 and $232 million -- for comparison's sake, the company pulled in revenues of $105.6 million last year.

It's not just thanks to Mrs. Kardashian West; Glu had another strong launch during the quarter: Dino Hunter: Deadly Shores hit number three on the Top Free charts on iOS, and it also was a single-day download record for the company.

Glu also announced the acquisition of Racing Rivals developer Cie Games for $100 million -- $70 million in stock and $30 million in cash. According to Glu, Racing Rivals is the number one grossing racing franchise in the U.S. across both iOS and Android. According to App Annie, Racing Rivals is the number 20 top-grossing game on U.S. iOS as of this writing. (Kardashian, by comparison, is number 4 in both downloads and gross.)

This latest studio buy comes after the company picked up Diner Dash creators PlayFirst earlier this year.

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Mike Weldon
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Good for them. Glu Mobile's stock price must be way up today.