On this photo illustration the DraftKings logo seen displayed on a smartphone.
Rafael Henrique | Sopa Images | Lightrocket | Getty Images
DraftKings on Thursday posted quarterly results that missed Wall Street estimates on the highest and bottom line, nevertheless it increased its revenue by 44%.
Here’s what DraftKings reported compared with what Wall Street was expecting, in keeping with analyst estimates compiled by LSEG, formerly often known as Refinitiv:
- Loss per share: 10 cents vs. expected profit of 8 cents
- Revenue:Â $1.23 billion vs. $1.24 billion expected
The sports betting company saw a 44% increase in revenue year-over-year. DraftKings recently launched its Sportsbook product in Maine and Vermont, bringing it to a complete of 24 states allowing its mobile sports betting.
For the last three months of 2023, DraftKings reported a net lack of $44.6 million compared with $242.7 million in the identical period a yr earlier. Losses per share improved to a lack of 10 cents versus a lack of 53 cents in 2022.
DraftKings garnered 3.5 million average “monthly unique payers,” a 37% increase from the identical period in 2022. The corporate’s average revenue per MUP saw a 6% boost within the fourth quarter in comparison with the previous yr.
DraftKings also announced after the bell Thursday that it plans to accumulate lottery app Jackpocket for roughly $750 million.
For 2024, the corporate is increasing its fiscal yr guidance to between $410 million and $510 million in comparison with its prior guidance of between $350 million and $450 million. That excludes the corporate’s estimated impact attributable to its planned acquisition of Jackpocket.
