DraftKings (DKNG) Tops Q2 EPS by 28c; raises guidance

DraftKings (NASDAQ: DKNG) reported Q2 EPS of $0.14, $0.28 better than the analyst estimate of ($0.14). Revenue for the quarter came in at $874.9 million versus the consensus estimate of $750.16 million.

GUIDANCE:

DraftKings is raising its fiscal year 2023 revenue guidance to a range of $3.46 billion to $3.54 billion vs $3.27B consensus from the range of $3.135 billion to $3.235 billion, which the Company previously announced on May 4, 2023. The Company’s updated 2023 revenue guidance range equates to year-over-year growth of 54% to 58%.

In the fourth quarter of 2023, DraftKings expects to generate $150 million to $175 million of Adjusted EBITDA and nearly $1.2 billion of revenue.

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

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