DraftKings Q3 Earnings Preview: Analyst Estimates, Key Items To Watch, NFL Impact, What's Next
Portfolio Pulse from Chris Katje
DraftKings Inc (NASDAQ:DKNG) is set to report its Q3 financial results. Analysts expect a revenue of $685.21 million and a loss of 70 cents per share. The company had beaten revenue and earnings estimates for seven and six straight quarters respectively. Morgan Stanley and Bank of America analysts expect a Q3 beat and strong 2024 guidance. Needham analyst Bernie McTernan shared NFL weekly data and app store rankings, indicating a mixed performance. The upcoming launch of ESPN Bet, backed by PENN Entertainment Inc (NASDAQ:PENN) and Walt Disney Co(NYSE:DIS), could pose competition.
October 30, 2023 | 5:25 pm
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NEUTRAL IMPACT
Walt Disney Co is backing the launch of ESPN Bet, which could pose competition to DraftKings.
Disney's backing of ESPN Bet could pose competition to DraftKings and impact its market share.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
DraftKings is expected to report strong Q3 results and 2024 guidance. However, the launch of ESPN Bet could pose competition.
DraftKings has consistently beaten revenue and earnings estimates. However, the upcoming launch of ESPN Bet could pose competition and impact its market share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Flutter Entertainment's unit FanDuel is ranked ahead of DraftKings in the iOS app rankings.
FanDuel's higher ranking in the iOS app rankings could indicate a stronger market presence compared to DraftKings.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
PENN Entertainment Inc is backing the launch of ESPN Bet, which could pose competition to DraftKings.
PENN's backing of ESPN Bet could pose competition to DraftKings and impact its market share.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50