It was all sevens for Gambling.com Group (NASDAQ:GAMB), as its earnings report emerged and produced a monstrous win. How monstrous? How about share prices up 15.8% at one point in Thursday afternoon’s trading? That’s indeed pretty monstrous, and it looks like Gambling.com is ready to double down and take some more wins coming up.
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The earnings report came in very nicely indeed. Gambling.com post earnings of $0.17 per share, which handily beat analyst expectations looking for $0.11 per share. It also put up revenue of $25.97 million, which was up 63% against 2022’s second quarter. It was also enough to roll over the analyst consensus calling for $21.84 million. A sector breakdown offered even more staggering details. For instance, Gambling.com’s North American revenue was up fully 115%, bringing in $13.4 million all by itself. This left Gambling.com’s CEO, Charles Gillespie, to note that everyone at Gambling.com is confident that the streak can keep going.
A hot streak is a hot streak, but any reasonably experienced gambler knows a hot streak can go cold at any time. However, Gambling.com has no shortage of audacious plays on its side. A look at its blog includes such unconventional betting fare as the odds of various scenarios of the Biden administration. For instance, there’s currently one in six odds that Joe will be thrown out before the next election. Having a perspective on such things does increase the amount of customers it can satisfy, and thus improves the chances current users will stay and new ones will arrive.
Meanwhile, Gambling.com has a strong position with analysts. By a unanimous decision of seven Buy ratings, Gambling.com stock is considered a Strong Buy. Further, Gambling.com stock comes with a 6.75 downside risk thanks to its average price target of $13.67.
