Why Gambling.com Stock Just Soared 27%
Shares of Gambling.com Group (Nasdaq: GAMB), the tiny Dublin, Ireland-based marketing company for the online gambling industry, rocketed 27% higher as of 1:20 p.m. EDT Friday after reporting a straight flush of profits last night.
Gambling's revenue soared 66% year over year in the fiscal second quarter of 2021 -- its first report as a publicly traded company -- to $10.4 million, and the company turned a $0.02-per-share quarterly loss a year ago into an $0.08-per-share profit this time around.
About the only number that went the wrong way for Gambling.com this quarter, in fact, was free cash flow -- and even that one only declined 3% to $3.1 million. What's more, management pointed out that its operating cash flow actually increased by 47%, and the only reason free cash flow declined was due to investments made in "the acquisition of two domain portfolios."
Source Fool.com
