Glu (NSDQ: GLUU) reported Q3 revenue of $23.9 million, a 44 percent jump compared to the $16.7 million recorded in the year-ago period. However, the company’s net loss ballooned to $56.9 million, or $1.93 a share, from $800,000 or three cents a share in the same period last year. Profits were negatively affected by a $1.9 million charge related to certain royalty guarantees. The company said new platforms, such as the iPhone and Android provide hope, but that they didn’t help the company outperform during the poor economy. “Despite an active release schedule and solid performances in Latin America and parts of Europe, economic turmoil in the U.S. and other parts of the world affected our quarterly results. We expect these conditions to continue, which is reflected in our outlook for the fourth quarter,” said Glu’s CEO Greg Ballard. “We continue to have optimism around the new platforms including iPhone, Android and N-Gage, which have demonstrated the market’s enthusiasm for new high-end devices. We believe that these next-generation platforms will provide a basis for renewed growth for the mobile games market and for Glu in 2009.” Release. Earnings Call.

SEE ALSO: Earnings Call: Glu Says New Platforms Have Hurt Traditional Carrier Business; Cash Balance Sinks

Other results:

—Top 10 titles: Glu’s top ten titles represented about 28 percent of revenue in Q3, compared to about 32 percent of revenue in Q2 2008. The average revenue per top ten title was $678,000, down 31 percent from the year-ago period. New titles released in the quarter included Family Feud, Transformers G1: Awakening and Ice Age: Mammoth Mayhem, as well as distribution titles such as Pro Evolution Soccer and Wheel of Fortune.

—Business Outlook::- In Q4, revenues are expected to fall between $21 million and $22 million; non-GAAP operating profit/(loss) is expected to be between $(600,000) and $0.1 million; GAAP net loss is expected to be between $6.7 million and $7.4 million. For the full year, GAAP revenue is expected to be between $89.2 million and $90.2 million; non-GAAP operating loss is expected to be between $(0.3) million and $(1.0) million; and GAAP net loss is expected to be between $(76.2) million and $(76.9) million, or between $(2.59) to $(2.62) per basic share.