DraftKings Q2 Earnings Preview: Earnings Estimates, What Analysts Are Saying Ahead Of Report
Portfolio Pulse from Chris Katje
DraftKings Inc (NASDAQ:DKNG) is set to report its Q2 financial results, with analysts expecting a revenue of $759.55 million. The company has consistently beaten revenue estimates in the past six quarters. DraftKings raised its full-year revenue guidance after Q1 results, and analysts predict another raise after Q2 results. However, some analysts are less optimistic due to potential negative catalysts such as Fanatics' entry into sports betting and tribes limiting state expansion.
August 04, 2023 | 1:28 pm
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DraftKings is expected to report strong Q2 results, potentially leading to a raise in full-year revenue guidance. However, potential negative catalysts could impact the stock.
While DraftKings has consistently beaten revenue estimates and is expected to raise its full-year revenue guidance, potential negative catalysts such as Fanatics' entry into sports betting and tribes limiting state expansion could negatively impact the stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
A strong quarter from the BetMGM joint venture from MGM Resorts International (NYSE:MGM) could strengthen the likelihood that DraftKings beats estimates.
The performance of the BetMGM joint venture could impact DraftKings' Q2 results, potentially strengthening the likelihood that DraftKings beats estimates.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50