Glu Mobile Inc. (GLUU) saw its loss widen to $22.76 million, or $0.17 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $8.55 million, or $0.07 a share.

Revenue during the quarter grew 4.14 percent to $56.79 million from $54.53 million in the previous year period. Gross margin for the quarter contracted 227 basis points over the previous year period to 56.13 percent. Operating margin for the quarter stood at negative 39.89 percent as compared to a negative 16.84 percent for the previous year period.

Operating loss for the quarter was $22.65 million, compared with an operating loss of $9.18 million in the previous year period.

Nick Earl, chief executive officer, stated, "Glu is off to a terrific start in 2017. Our better than expected bookings performance in the first quarter was driven by the continued strength of Design Home and the impact from optimization efforts made in our growth and evergreen titles. This strong first quarter financial performance gives us the confidence to significantly raise our bookings outlook for the year. We are focused on becoming a more stable and profitable growth company over time while continuing to make smart investments in titles that we believe have the potential to become blockbuster hits."