DraftKings Q1 2024 GAAP EPS $(0.30) Misses $(0.28) Estimate, Sales $1.175B Beat $1.124B Estimate
Portfolio Pulse from Benzinga Newsdesk
DraftKings reported Q1 2024 earnings with a GAAP EPS of $(0.30), missing the $(0.28) estimate, but sales of $1.175B exceeded the $1.124B estimate, marking a 52.67% increase from the previous year.
May 02, 2024 | 8:16 pm
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DraftKings reported a Q1 2024 GAAP EPS of $(0.30), missing estimates by 7.14%, but exceeded sales forecasts with $1.175B, a 52.67% increase YOY.
While DraftKings missed EPS estimates, the significant beat on sales forecasts and a substantial year-over-year growth indicate strong revenue performance. The mixed results (miss on EPS but beat on sales) could lead to neutral short-term stock price movement as investors weigh the implications of revenue growth against profitability concerns.
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