DraftKings (NASDAQ: DKNG) reported Q4 EPS of $0.29, $0.21 better than the analyst estimate of $0.08. Revenue for the quarter came in at $1.23 billion versus the consensus estimate of $1.24 billion.

GUIDANCE:

DraftKings sees FY2024 revenue of $4.65-4.9 billion, versus the consensus of $4.69 billion.

• DraftKings is raising its fiscal year 2024 revenue guidance to a range of $4.65 billion to $4.90 billion from the range of $4.50 billion to $4.80 billion, which the Company previously announced on November 2, 2023. The Company’s updated 2024 revenue guidance range equates to year-over-year growth of 27% to 34%.
• DraftKings is also increasing its fiscal year 2024 Adjusted EBITDA guidance. The Company now expects fiscal year 2024 Adjusted EBITDA of between $410 million and $510 million compared to its prior fiscal year 2024 Adjusted EBITDA guidance of between $350 million and $450 million, which the Company previously announced on November 2, 2023.
• The Company’s revenue and Adjusted EBITDA guidance for fiscal year 2024 includes all of its existing jurisdictions as well as mobile sports betting in Puerto Rico and North Carolina, which have authorized mobile sports betting and collectively represent approximately 4% of the U.S. population. DraftKings expects to launch its Sportsbook product in North Carolina on March 11, 2024 pending market access, licensure, regulatory approvals, and contractual approvals where applicable.
• DraftKings’ revenue and Adjusted EBITDA guidance for fiscal year 2024 excludes the estimated impact of the Company’s proposed acquisition of Jackpocket, which DraftKings will incorporate into its guidance following the close of the proposed acquisition.

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