Financial News
Rush Street Interactive (RSI) Q3 Earnings: What To Expect
Online casino and sports betting company Rush Street Interactive (NYSE:RSI) will be announcing earnings results tomorrow after market close. Here’s what to look for.
Rush Street Interactive beat analysts’ revenue expectations by 9.4% last quarter, reporting revenues of $220.4 million, up 33.5% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.
Is Rush Street Interactive a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Rush Street Interactive’s revenue to grow 22.1% year on year to $207.4 million, improving from the 14.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Rush Street Interactive has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 4.7% on average.
Looking at Rush Street Interactive’s peers in the consumer discretionary segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Churchill Downs delivered year-on-year revenue growth of 9.8%, meeting analysts’ expectations, and Nike reported a revenue decline of 10.4%, in line with consensus estimates. Churchill Downs traded up 4.5% following the results while Nike was down 6.8%.
Read our full analysis of Churchill Downs’s results here and Nike’s results here.
Investors in the consumer discretionary segment have had steady hands going into earnings, with share prices flat over the last month. Rush Street Interactive is down 4.1% during the same time and is heading into earnings with an average analyst price target of $13.38 (compared to the current share price of $10.40).
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