There were three supercharged growth stocks this past month that reported quarterly earnings that beat revenue estimates. The results were so good, in fact, that management for all three companies also raised earnings estimates for the rest of fiscal 2021. 

A common theme for the three companies is that each benefited as people stayed at home more often at the onset of the pandemic and they did not experience a major reversal as economies began to reopen worldwide.

Let's take a closer look at each of these growth stocks, their impressive results, and how the results might influence investors. 

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Image source: Getty Images.

1. DraftKings 

DraftKings (DKNG -0.58%) offers daily fantasy sports, mobile sports betting, and iGaming services to customers across the U.S. As states were set to ease business restrictions in its most recent quarter, there was worry that people would return to visiting land-based casinos, and that would hurt revenue at DraftKings. That did not play out. 

In its fiscal second quarter, DraftKings reported revenue of $290 million, an 320% increase from the year before. Analysts on Wall Street were expecting DraftKings to report revenue of $242 million.

The fact that revenue growth did not slow down as expected from the economic reopening gave management confidence to raise guidance for the rest of 2021. It is now telling investors to look for annual revenue in the range of $1.21 billion to $1.29 billion, an increase of 14% to the midpoint of its previous guidance.

2. Chegg

Chegg (CHGG 4.44%) is a leading online learning platform that helps students who are struggling with high school or college classes. The company experienced a surge in new users and revenue when classes went remote. Shareholders are a little concerned about how a return to classrooms is going to affect the company. 

So far, so good -- Chegg reported revenue of $198.5 million in Q2, an increase of 30% from Q2 last year. Management initially thought it would generate $189 million in Q2. 

Although not all students have returned to classrooms, the early trends gave management the information to raise estimates for the rest of the year. It is now guiding investors to revenue in the range of $805 million to $815 million, an increase from the previous range of $790 million to $800 million.

3. fuboTV

fuboTV (FUBO -5.08%) is a streaming substitute for a traditional cable TV subscription with an emphasis on sports programming. Consumers who want all the channels you get through a cable bundle without the hassle of a cable company can go with fuboTV. Indeed, fuboTV is finding success in adding customers and increasing revenue. 

In its fiscal second quarter, the company reported revenue of $130.9 million, a 196% increase from the prior year. Management estimated (at the midpoint of its projections) that it would earn revenue of $121 million.

The company benefited during the pandemic as consumers sought more home entertainment options and were hesitant to allow cable or satellite installers into their homes. The continued enthusiasm for fuboTV's services despite the economic reopening caused management to raise guidance for the rest of 2021. It now expects annual revenue in the range of $560 million to $570 million, up from the previous range of $520 million to $530 million. 

Investor takeaway 

Each of these supercharged growth stocks did better than expected as economies reopened. Still, investors should keep in mind the economic reopening is just getting started. Allow these companies a few quarters of time to prove they can sustain the supercharged growth rates as consumers adjust to more options for their time and money.