Why DraftKings Stock Is Winning Today
Portfolio Pulse from Erica Kollmann
DraftKings Inc. (NASDAQ:DKNG) shares are trading higher after the company reported better-than-expected Q3 financial results and raised its 2023 revenue guidance midpoint above the analyst consensus estimate. The company reported a Q3 revenue of $790 million, up 57% YoY, and a loss of 61 cents per share, beating the consensus estimate of a loss of 70 cents per share. DraftKings also raised its fiscal year revenue guidance to a new range of $3.67 billion to $3.72 billion, implying a YoY increase of 64% to 66%.
November 03, 2023 | 2:18 pm
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DraftKings reported better-than-expected Q3 results and raised its 2023 revenue guidance, leading to a rise in its stock price.
DraftKings reported strong Q3 results, beating analyst estimates, and raised its 2023 revenue guidance. This positive financial performance and outlook is likely to boost investor confidence, leading to a rise in the company's stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100