Following the release of preliminary second-quarter results, GAN Ltd (NASDAQ: GAN) is trading considerably higher on Thursday morning.
What happened was this: GAN forecasts sales of $34 million to $35 million for the quarter, which is higher than the expectation of $23.98 million. The firm increased its full-year 2021 outlook from $103 million to $108 million to $125 million to $135 million, which is higher than the consensus of $106.21 million.
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Updated Guidance Helps GAN Surge
A better-than-expected performance from the company’s business-to-consumer segment in Latin America and Northern Europe fueled the company’s outstanding preliminary results. Higher-than-expected sports betting margins aided sports performance. Two large international athletic events were highlighted as catalysts for the company’s rapid sales growth.
GAN Price Movement: GAN was up 17.30 percent to $17.77 at the time of our latest check on Thursday.
Benzinga.com, 2021. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
