Why Genius Sports Shares Are Falling Today
Portfolio Pulse from Lekha Gupta
Genius Sports Ltd (NYSE:GENI) shares dropped approximately 8% despite reporting a 29.3% Y/Y increase in Q3 FY23 sales to $101.73 million, surpassing consensus estimates. The company narrowed its loss from operations and reported a 131% Y/Y increase in adjusted EBITDA. However, an EPS loss of $(0.06) missed expectations by $(0.02). GENI raised its FY23 revenue and adjusted EBITDA outlook but saw its shares fall to $4.95.
November 13, 2023 | 2:36 pm
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NEGATIVE IMPACT
Genius Sports reported higher Q3 sales and raised FY23 guidance, but shares fell due to an EPS loss that missed expectations.
The stock price decline is likely due to the EPS miss, which can overshadow positive sales growth and outlook in the short term. Investors may have expected better profitability, leading to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100