DraftKings Reports Q4 EPS Beat, Raises Guidance

DraftKings Reports Q4 EPS Beat, Raises Guidance Feb. 16, 2024, 10:37 a.m., readers: 110

DraftKings (NASDAQ:DKNG) announced its financial results for the fiscal fourth quarter and adjusted its financial outlook upwards for the year 2024. The company outperformed with earnings per share (EPS) of $0.29, surpassing the analyst consensus of $0.08. However, its revenue of $1.23 billion was marginally below the anticipated $1.24 billion. Looking ahead, DraftKings has revised its revenue expectations for the fiscal year 2024 to a range of $4.65 billion to $4.9 billion, compared to the analyst consensus of $4.69 billion. This update marks an increase from the previously forecasted range of $4.50 billion to $4.80 billion. Furthermore, DraftKings has raised its adjusted EBITDA outlook for 2024 to between $410 million and $510 million, an adjustment from the prior estimate of $350 million to $450 million.

About NASDAQ: DKNG

D raftKings Inc. operates a digital sports entertainment and gaming company. It offers multi-channel sports betting and gaming technologies, powering sports and gaming entertainment for operators in 17 countries. The company operates iGaming through its DraftKings brand in 5 states, as well as operates Golden Nugget Online Gaming, an iGaming product and gaming brand in 3 states.

Price: 44.94
Market cap: 21.3 billion USD
Eps: -1.73
P/e ratio: -25.98
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