Shares of Genius Sports Ltd (NYSE: GENI) surged 9.25% during Tuesday's trading session, following the company's impressive fourth quarter 2024 earnings report. The data and technology solutions provider for the sports betting industry reported quarterly earnings per share of $0.12, a stunning 500% beat over analyst consensus estimates of $0.02.
While quarterly sales of $175.53 million narrowly missed estimates of $175.54 million, investors appeared to focus on the company's profitability improvement. 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.
The strong earnings surprise is likely the primary driver behind GENI's substantial intraday rally. Analysts praised the company's execution, with Needham maintaining its price target of $12.00 on the stock. Genius Sports also provided an optimistic 2025 revenue guidance of approximately $620 million, surpassing the FactSet consensus estimate of $590.6 million.
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