Genius Sports reported third quarter revenue of $120 million and net income of $0.05 a share, each of which beat Wall Street consensus, rallying shares up 20% at the start of trading Tuesday.
The sports and advertising data and analytics business said sales rose 18% in the period, ending Sept. 30. Particularly strong was Europe, which saw gains of 22% for Genius. Approximately 70% of Genius’ business in the period came from outside the U.S. With the fourth quarter well underway, management said it was raising its guidance for the full year revenue to $511 million, some $31 million over its initial projections, despite a rough month for its sportsbooks, who were on the wrong side of many NFL bets.
