Shares of Bowlero Corp. (BOWL) soared by nearly 17% in premarket trading on September 6, 2024, fueled by the company's impressive fiscal fourth-quarter results and bullish growth prospects.
The bowling and entertainment center operator reported fiscal Q4 revenue of $283.9 million, exceeding analysts' expectations of $274.4 million. While Bowlero recorded a quarterly net loss of $62.18 million or $0.43 per share, the solid revenue growth and strategic initiatives appear to have bolstered investor confidence.
Analysts praised Bowlero's successful launch of a Summer Season pass, which generated $8.5 million in sales and laid the groundwork for future seasonal offerings and growth opportunities. The company plans to introduce a fall season pass, further capitalizing on this new revenue stream.
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