Why GAN Stock Is Trading Higher Today

GAN Ltd GAN is trading significantly higher Thursday morning after the company announced preliminary second-quarter results. 

What Happened: GAN expects its quarterly revenue to be in a range of $34 million to $35 million, which is higher than the estimate of $23.98 million. The company raised its full-year 2021 guidance from a range of $103 million to $108 million to a range of $125 million to $135 million, which is higher than the estimate of $106.21 million. 

Related Link: GAN Surges On Updated Guidance

The company's strong preliminary results were driven by a better-than-expected performance from its business-to-consumer segment in Latin America and Northern Europe. Sports results benefited from higher-than-expected sports betting margins. The company cited two major international sporting events as drivers of accelerated revenue growth.

GAN Price Action: At last check Thursday, GAN was up 17.30% at $17.77.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsGuidanceSmall CapMoversTrading IdeasDermot Smurfitwhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!