Glu Mobile has announced its financial results for the second quarter ended June 30, 2009.

The mobile publisher saw revenue fall 16 per cent, from $23.7 million in the second quarter of 2008 to $19.9 million (£11.7m).

However, net loss was narrowed from $6.6 million to $1.5 million (£883,000), and the company said it had achieved positive cash flow from operations one quarter sooner than expected, generating $1.1 million (£647,363) in cash from operations during the three month period.

“We were pleased with the company’s ability to achieve positive cash flow from operations ahead of schedule and exceed our expectations during the second quarter,” said Glu CEO Greg Ballard. “Our traditional carrier business continues to stabilise, which is allowing the company to invest in new platforms as evidenced by our launch of seven titles for the iPhone during the second quarter.

“While the overall revenue contribution from new platforms remains small at this point, we will continue to invest in growth initiatives and believe that Glu remains well positioned to benefit from the growth of the mobile gaming market opportunity from a long-term perspective.”