RTTNews | Jul 8, 2021 10:23AM EDT

10:23 Thursday, July 8, 2021 (RTTNews.com) - Shares of internet gaming software-as-a-service provider GAN Limited (GAN) are up more than 16% Thursday morning at $17.60.

Wednesday, the company announced second-quarter preliminary revenue in the range of $34 million to $35 million. This compares with the consensus estimate of analysts surveyed by Thomson Reuters at $23.98 million.

Further, GAN has increased its full year revenue guidance to a range of $125 million to $135 million. The Street view is for $106.21 million.

The company said its results in the second quarter were positively impacted by better than expected performance in its B2C offering in Latin America and Northern Europe, as well as higher-than-expected sports betting margin.

GAN is scheduled to report quarterly earnings on August 16, 2021. The stock has traded in the range of $13.78- $31.81 in the past one year.

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