Shares of Genius Sports Ltd (NYSE: GENI) surged 8.29% in Tuesday's pre-market session, following the company's impressive fourth quarter 2024 earnings report. Genius Sports reported quarterly earnings per share of $0.12, beating analyst consensus estimates of $0.02 by a significant 500%.
The strong earnings surprise is likely the primary driver behind GENI's substantial pre-market rally. The better-than-expected bottom-line performance marks a significant turnaround from the same period last year when Genius Sports reported losses of $0.12 per share. While quarterly sales of $175.53 million narrowly missed estimates of $175.54 million, investors appeared to focus on the company's profitability improvement.
Genius Sports, a leading provider of data and technology solutions for the sports betting industry, has seen its stock price fluctuate in recent months amid concerns over consumer spending and the broader economic environment. However, today's earnings beat suggests the company is effectively navigating these challenges and could regain investor confidence with continued strong execution.
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