Glu Mobile cuts Q4 losses, but revenues drop

Social game publisher Glu Mobile reported fourth quarter 2010 net revenues of $15.6 million, compared to $19.1 million a year earlier--on the positive side of the balance sheet, the firm posted losses of $4.9 million, trimmed from Q4 2009 losses of $6.9 million. Glu introduced five new freemium titles during the fourth quarter, generating 18.0 million new installs--the company now boasts 12.1 million monthly active users. According to CEO Niccolo de Masi, Glu will launch between 20 and 25 new titles in 2011--in addition, the firm will introduce its Glu Games Network, an initiative to deepen user engagement in its social gaming community and provide global distribution for third party content.

Glu recently raised $15.9 million in net proceeds through an underwritten sale of common stock. Last month, the company also inked a new partnership with visual computing technologies developer Nvidia to create a series of new Android smartphone and tablet titles. According to Glu, the new games will leverage Nvidia's Tegra 2 mobile superchip, which employs a dual-core central processing unit to deliver faster mobile web browsing, hardware accelerated Flash and console-quality gaming with an ultra-low power GeForce graphics processing unit. Glu has already introduced roughly two dozen Android games.

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