DraftKings Q3 Earnings Highlights: Shares Climb On Revenue, EPS Beat; Company Raises 2023 Guidance, Provides Initial 2024 Guidance
Portfolio Pulse from Chris Katje
DraftKings Inc (NASDAQ:DKNG) reported Q3 revenue of $790 million, up 57% YoY, beating the Street consensus estimate of $685.21 million. The company reported a loss of 61 cents per share, better than the estimated loss of 70 cents per share. The company raised its full year 2023 revenue guidance to $3.67 billion to $3.72 billion, up from a previous range of $3.46 billion to $3.54 billion. DraftKings also provided initial 2024 revenue guidance of $4.50 billion to $4.80 billion.
November 02, 2023 | 8:50 pm
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DraftKings reported better than expected Q3 results and raised its future revenue guidance. This positive news could lead to a short-term increase in the company's stock price.
DraftKings reported strong Q3 results, beating both revenue and EPS estimates. The company also raised its 2023 revenue guidance and provided initial 2024 guidance, indicating confidence in its future performance. This positive news is likely to be well received by investors, potentially leading to a short-term increase in the company's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100