The GEO Group, Inc. (NYSE:GEO) saw a 6.31% increase in share prices on Friday, closing at $26.10 ahead of the release of its second-quarter earnings results on Wednesday, August 6. The company had previously projected diluted earnings per share to range from $0.15 to $0.17 with quarterly revenues of $615 million to $625 million and adjusted EBITDA between $110 million to $114 million.

In a separate development, GEO Group announced the $60 million acquisition of a 770-bed Western Region Detention Facility in San Diego, which generates $57 million in revenues annually. Despite potential, some believe AI stocks offer greater returns with limited risk.

Read more at Yahoo Finance: GEO Group (GEO) Gets Boost Ahead of Q2 Earnings