Online casino and sports betting company Rush Street Interactive (NYSE: RSI) will be reporting results this Tuesday after the bell. Here’s what to expect.
Rush Street Interactive beat analysts’ revenue expectations last quarter, reporting revenues of $324.9 million, up 27.8% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and full-year revenue guidance exceeding analysts’ expectations.
Is Rush Street Interactive a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Rush Street Interactive’s revenue to grow 26.9% year on year, improving from the 20.7% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing in majority upward revisions over the last 30 days. Rush Street Interactive has a history of exceeding Wall Street’s expectations.
Looking at Rush Street Interactive’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Churchill Downs delivered year-on-year revenue growth of 3.2%, meeting analysts’ expectations, and Monarch reported revenues up 8.9%, topping estimates by 5.2%. Churchill Downs traded up 10.1% following the results while Monarch was also up 15.9%.
Read our full analysis of Churchill Downs’s results here and Monarch’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.8% on average over the last month. Rush Street Interactive is up 15.1% during the same time and is heading into earnings with an average analyst price target of $25.09 (compared to the current share price of $23.83).
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