DraftKings: Q2 Earnings Insights

Shares of DraftKings DKNG rose 2.9% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share decreased 38.18% year over year to ($0.76), which missed the estimate of ($0.52).

Revenue of $297,605,000 rose by 319.57% year over year, which beat the estimate of $242,410,000.

Guidance

The upcoming fiscal year's revenue expected to be between $1,210,000,000 and $1,290,000,000.

Details Of The Call

Date: Aug 06, 2021

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/rcr75rys

Price Action

Company's 52-week high was at $74.38

Company's 52-week low was at $30.51

Price action over last quarter: Up 14.56%

Company Profile

DraftKings Inc is a digital sports entertainment and gaming company. The company provides users with daily fantasy sports (DFS), sports betting, and iGaming opportunities and is also involved in the design & development of sports betting and casino gaming platform software for online and retail sportsbook and casino gaming products. It operates in two segments: Business-to-consumer(B2C) and Business-to-Business(B2B), of which the vast majority of its revenue comes from the B2C segment. Geographically, it derives most of its revenue from the United States.

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