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.