Esports Entertainment (GMBL) Stock Is Trading Higher: Is It Impacted By Good Financial Results?

For the last 4 business days, GMBL’s worth had been trading at the level of $ 6.38. Today the stock price rose sharply by 12% after the horizontal movement. This is not surprising as the company’s fourth-quarter results were very good, according to the announcement. Half an hour after the opening of trading, GMBL is trading at $6.86.

The report says the revenue of Esports for Q4 rose $ 5.5 million to $ 8.8 million from the prior quarter while for full fiscal 2021 its net income jumped to $16.8 million. Its gross profit for Q4 equals $5.2 million, whereas for the full year is $8.9 million. The GAAP loss is estimated at $ 4.8 million. However, equity capital increased to $74.8 from a year earlier at $11.4. Another thing that could affect the stock price is a report by Esports that ggCircuit has hit the $ 1 million mark. ggCircuit is a B2B software company that provides cloud management for LAN hubs