Why Everi Stock Jumped on Tuesday
Shares of Everi Holdings (NYSE: EVRI), a provider of land-based and digital casino gaming solutions, jumped on Tuesday. The stock rose as much as 12.7%. But as of 1:10 p.m. ET, shares were up 6.9%.
The gambling company's stock was up because of Everi's impressive first-quarter results. First-quarter revenue increased 26% year over year, aided by strength in the company's recurring revenue streams. The quarter's financials were well ahead of analysts' consensus forecasts.
Everi's first-quarter revenue increased from $139.1 million in the year-ago period to $175.6 million. Analysts, on average, were expecting revenue of $168.7 million. Earnings per share of $0.31 was also ahead of analysts' average forecast for EPS of $0.28.
Source Fool.com
