PointsBet (ASX:PBH) share price jumps on strong Q3 update
James Mickleboro | April 30, 2021 10:18am |
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PointsBet Holdings Ltd(ASX: PBH) share price is on course to end the week on a very positive note.
At the time of writing, the sports betting company’s shares are up 6% to $13.40.
Why is the PointsBet share price surging higher?
The catalyst for the rise in the PointsBet share price today has been the release of its third quarter update this morning. That update reveals that the company has continued to grow all key metrics at a rapid rate.
For the three months ended 31 March, PointsBet reported a 236% increase in turnover to $905.2 million. This was driven by a 137% jump in Australian turnover to $423.2 million and a 431% increase in US turnover to $482 million.