By Adriano Marchese
Shares in Enthusiast Gaming Holdings Inc. jumped late morning on Tuesday after the company said it expects higher revenue in the fourth quarter and for the full year.
At 11:22 a.m., shares rose 14% to C$3.37.
The Canadian media and content platform for the video game and esports market said it expects revenue in the fourth quarter to rise by 34% to 56.9 million Canadian dollars, the equivalent of US$44.9 million.
For the full year, revenue is expected to be C$167.4 million, up from $72.8 million in 2020.
The company said paid subscribers are also expected to be 80% higher at 220,000 as at Dec. 31, 2021.
The company said it expects to release its fourth-quarter and full-year results on March 24.
Write to Adriano Marchese at [email protected]
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