Endeavor Group (NYSE:EDR) stock is gaining on Tuesday following the release of the company’s earnings report for the second quarter of 2021.
The rise in ERI stock today has to do with its growing revenue. The company reported revenue of $1.11 billion in the most recent quarter. While that’s below Wall Street’s estimate of $1.14 billion, it’s a major increase over the $462.91 million reported during the same time last year.
The rising revenue is a positive sign for ERI stock and also has it updating its guidance for 2021. The talent agency says it now expects revenue for the year to between $4.8 billion and $4.85 billion. To put that in perspective, analysts are looking for revenue of $4.79 billion for the full year of 2021.
Ari Emanuel, CEO of Endeavor Group, said the following in the company’s most recent earnings report.
“Despite continued challenges brought on by the pandemic, our company once again demonstrated resilience, due in large part to our global portfolio of premium assets and the creativity of our employees and partners. As you look at the secular trends defining our industries – marked by the growing demand for content, the increased value of the talent and brands behind that content, and the desire of people to come together around live events and experiences – Endeavor remains firmly and uniquely positioned for a strong second half of 2021.”
EDR stock is experiencing heavy trading following its Q2 earnings report. Some 1.4 million shares have changed hands as of this writing, that’s a nice boost from the company’s daily average trading volume of about 665,000 shares.
EDR stock was up 8.1% as of noon Tuesday.
Of course, we’ve got more earnings news to check out below!
Earnings season is in full swing and InvestorPlace has all the coverage you need to know about. Some of the latest earnings we’ve covered include Roblox (NYSE:RBLX), Sea Limited (NYSE:SE), and Romeo Power (NYSE:RMO). You can get all the latest details by checking out the following links!
More Earnings News for Tuesday
- RBLX Stock: Why Roblox Shares Are Taking a Hit Today
- SE Stock: 14 Things That Have Sea Limited Investors Feeling Bullish Today
- RMO Stock: 10 Things for Romeo Power Investors to Know as Shares Plunge
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.