DraftKings Raises FY23 Midpoint Revenue Guidance From $3.5B To $3.695B Vs $3.53B Est.; Introduces FY24 Revenue Midpoint Of $4.65B Vs $4.29B Est
Portfolio Pulse from Benzinga Newsdesk
DraftKings has raised its FY23 midpoint revenue guidance from $3.5B to $3.695B, surpassing the estimated $3.53B. The company also introduced its FY24 revenue midpoint of $4.65B, higher than the estimated $4.29B. The increase is attributed to efficient customer acquisition, improved sportsbook structural hold, promotional reinvestment, and fixed cost discipline.
November 02, 2023 | 8:21 pm
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DraftKings has raised its FY23 and FY24 revenue guidance, surpassing estimates. This indicates strong performance and potential for growth, which could positively impact the company's stock price.
DraftKings' raised revenue guidance for FY23 and FY24 indicates strong performance and potential for growth. This positive financial outlook could attract investors, potentially driving up the company's stock price in the short term.
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