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Why Genius Sports Shares Are Shooting Higher Today

Genius Sports Ltd (NYSE:GENI) shares are trading higher after the company reported better-than-expected first-quarter FY24 sales. The company reported first-quarter FY24 sales of $119.72 million, beating the analyst consensus estimate of $116.89 million. Segment Revenue: Betting Technology, Content & Services increased 14.1%, Media Technology, Content & Services jumped 63%, and Sports Technology & Services fell 3.5%. The gross profit increased 34% to $12.8 million, and the gross margin expanded 90 basis points to 10.7%. Total operating expenses increased 13.8% ...