DraftKings (NASDAQ: DKNG) reported Q4 EPS of ($0.53), $0.08 better than the analyst estimate of ($0.61). Revenue for the quarter came in at $855 million versus the consensus estimate of $798.23 million.

GUIDANCE:

DraftKings raises FY2023 revenue to $2.85-3.05 billion, versus the consensus of $2.95 billion.

• DraftKings is raising its fiscal year 2023 revenue guidance to a range of $2.85 billion to $3.05 billion from the range of $2.8 billion to $3.0 billion, which was previously announced on November 4, 2022. The Company’s updated 2023 revenue guidance range equates to year-over-year growth of 27% to 36%.
• DraftKings is also significantly improving its fiscal year 2023 Adjusted EBITDA guidance. The Company now expects fiscal year 2023 Adjusted EBITDA of between ($350) million and ($450) million compared to its prior fiscal year 2023 Adjusted EBITDA guidance of between ($475) million and ($575) million, which was previously announced on November 4, 2022.
• The Company’s revenue and Adjusted EBITDA guidance for fiscal year 2023 includes all the existing jurisdictions in which it is live plus jurisdictions in which it expects to launch during the guided period, including Massachusetts and Puerto Rico

For earnings history and earnings-related data on DraftKings (DKNG) click here.