Genius Sports Ltd Down 2.09% To $5.16 After Earnings Miss

Monday, November 13, 2023 - Genius Sports Ltd (GENI) reported downside earnings and upside revenues.

Wall Street earnings per share (EPS) projections for Genius Sports Ltd were at a loss of $0.03 per share. The company missed those estimates with an EPS loss of $0.06 per share. The loss of $0.06 per share (which represents a -100% EPS surprise) led to the company's profits falling 50% compared to last year when the firm reported an EPS loss of $0.04 per share. The decline in Genius Sports Ltd's annual growth rate represents how the business isn't performing well amid current economic conditions.

Revenues were upbeat at $101.7 million. That is an increase of 29.34% in revenues from the year-ago report and is 1.52% higher than consensus estimates set at $100.2 million.

The stock is down 2.09% to $5.16 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Genius Sports Ltd a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 54. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Genius Sports Ltd is a B2B provider of scalable, technology-led products and services to the sports, sports betting, and sports media industries.