Tag: $DraftKings

DraftKings Inc. reported better-than-expected third-quarter earnings but cut its full-year guidance due to unfavorable sports outcomes, sending shares down 5% in after-hours trading.

DraftKings Inc. reported better-than-expected second quarter earnings and raised its full-year 2024 revenue guidance, as the online sports betting and gaming company continues to see strong customer growth and engagement. DKNG shares were trading marginally lower, down 0.25% following the report.

Stocks in DraftKings and FanDuel owner Flutter Entertainment were dropping Tuesday after Illinois senators passed a new budget that includes a tax increase on sports betting operators.

Fantasy sports and betting company DraftKings announced better-than-expected results in Q1 CY2024, with revenue up 52.7% year on year to $1.17 billion. The company’s full-year revenue guidance of $4.9 billion at the midpoint also came in 1.7% above analysts’ estimates. It made a non-GAAP profit of $0.03 per share, improving from its loss of $0.51 per share in the same quarter last year.

DraftKings posted fourth-quarter results that missed Wall Street’s estimates on Thursday.

Sports betting company DraftKings on Thursday posted quarterly revenue that came in ahead of analysts’ expectations as the company rises to the top of the highly competitive online gambling industry.