EXCLUSIVE: DraftKings CEO Highlights 'Sustainable Model' For Company With High Flow Through, Great Execution
Portfolio Pulse from Chris Katje
DraftKings Inc (NASDAQ:DKNG) reported Q2 results that exceeded analysts' estimates, leading to a rise in its shares. The company also raised its full-year guidance. CEO Jason Robins highlighted the company's ongoing migration to its proprietary technology platform and increased customer acquisition at lower costs. DraftKings expects to be profitable by Q4 2023 and fiscal 2024. The company will host an investor day in November to discuss the outlook for fiscal 2024 and future projections beyond 2023.
August 07, 2023 | 12:58 pm
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POSITIVE IMPACT
DraftKings' Q2 results and raised full-year guidance may boost investor confidence, potentially leading to a short-term increase in its stock price.
DraftKings' better-than-expected Q2 results and raised full-year guidance indicate strong performance and future growth, which are likely to positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100