Gambling.com Group Shares Rise 9.7% After Raising Adjusted Profit View

Dow Jones11-15

By Ben Glickman

Shares of Gambling.com Group rose Thursday after the company raised its guidance for adjusted profit this year and posted third-quarter results that beat Wall Street's expectations.

The stock was up 9.7% to $11.31 in morning trading. Shares are up about 16% this year.

The Charlotte, N.C., company, which provides digital marketing for the online gambling industry, said early Thursday that it now expected $46.5 million to $48.5 million of adjusted Ebitda, or earnings before interest, tax, depreciation and amortization, this year. Gambling.com had previously forecast $44 million to $47 million, and analysts polled by FactSet expect $45.2 million.

The company guided for $125 million to $127 million in revenue on the year, compared with its previous outlook for $123 million to $127 million.

Gambling.com's revenue rose 37% from a year earlier to $32.1 million in the quarter, ahead of the $30.4 million expected by analysts.

The company posted a profit of $8.51 million, or 24 cents a share, in the three months ended Sept. 30, compared with $5.01 million, or 13 cents a share, in the same period a year earlier.

Stripping out certain one-time items, Gambling.com posted a per-share profit of 25 cents, more than the 18 cents expected by analysts.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

November 14, 2024 11:22 ET (16:22 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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