Why Bowlero Stock Is Rising After Hours

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Bowlero Corp BOWL shares are trading higher in Thursday's after-hours session after the company reported fiscal fourth-quarter financial results that came in above analyst estimates.

Bowlero said fourth-quarter revenue increased 68.3% year-over-year to $267.7 million, which beat average analyst estimates of $195.17 million, according to Benzinga Pro. The company said its strong revenue results were driven by continued strong growth in walk-in retail and accelerated further by significant growth in event revenue.

"We continue to see very strong demand in our bowling centers, which is driving significant same-store sales growth relative to both prior year and pre-pandemic levels. Additionally, the new units are accelerating our growth rates, as we opened 4 new locations during the quarter," said Brett Parker, president and CFO of Bowlero.

Bowlero is a leader in bowling entertainment, media and events. The company has more than 300 bowling centers in North America.

See Also: Why FedEx Stock Is Down 15% After Hours

BOWL Price Action: Bowlero has a 52-week high of $13.30 and a 52-week low of $6.96.

The stock was up 6.95% in after-hours at $13.38 at the time of publication.

Photo: StockSnap from Pixabay.

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