Digital Marketing Services Provider Outperforms Expectations
- Gambling.com Group shares rose 24% after beating 2Q earnings expectations
- Quarterly earnings were $6.9 million, compared to $278,000 last year
- Adjusted earnings were 20 cents a share, higher than expected 16 cents
- Revenue increased from $26 million to $30.5 million YoY
- More than 108,000 new depositing customers in Q2, up 19% YoY
- Projected revenue for 2024: $123-$127 million
Gambling.com Group, a digital marketing services provider for the global online gambling industry, saw its shares rise by 24% to $10.93 after reporting second-quarter earnings that surpassed analysts’ expectations. The company posted quarterly earnings of $6.9 million or 19 cents per share, compared to $278,000 and 1 cent per share in the same period last year. Adjusted earnings were 20 cents per share, exceeding the anticipated 16 cents by analysts. Revenue increased from $26 million to $30.5 million year-over-year. The company also reported more than 108,000 new depositing customers in Q2, a 19% increase compared to last year. For the upcoming year, Gambling.com expects revenue between $123-$127 million, while analysts forecast $120.5 million.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Gambling.com Group’s second-quarter earnings, including specific financial figures and comparisons to previous years and analyst expectations. It also includes the company’s revenue forecast for 2024. The information is relevant and directly related to the main topic without any digressions or unnecessary details.
Noise Level: 3
Noise Justification: The article provides relevant financial information about Gambling.com Group’s earnings and stock performance but lacks in-depth analysis or exploration of long-term trends or consequences of decisions on those who bear the risks.
Public Companies: Gambling.com Group (GAMB)
Key People:
Financial Relevance: Yes
Financial Markets Impacted: Gambling.com Group’s stock price and the global online gambling industry
Financial Rating Justification: The article discusses Gambling.com Group’s earnings report, which impacted their stock price and the company’s financial performance, making it relevant to financial topics.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme event mentioned in the article
Move Size: The market move size mentioned in this article is a 24% increase in Gambling.com Group shares to $10.93 in recent trading.
Sector: Technology
Direction: Up
Magnitude: Large
Affected Instruments: Stocks
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