DraftKings (DKNG) Stock Plummets on Monthly Users Miss and Poor Profit Outlook, Analyst Reaction Mixed
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DraftKings Reports Fourth Quarter Revenue of $473 Million; Increases 2022 Revenue Guidance to $1.85 Billion to $2.0 Billion; Introduces 2022 Adjusted EBITDA Guidance
February 18, 2022 7:00 AM ESTBOSTON, Feb. 18, 2022 (GLOBE NEWSWIRE) -- DraftKings Inc. (Nasdaq: DKNG) (DraftKings or the Company) today reported fourth quarter and full-year 2021 financial results.
Fourth Quarter and Full-Year 2021 Highlights
For the three months ended December 31, 2021, DraftKings reported revenue of $473 million, an increase of 47% compared to $322 million during the same period in 2020. Fourth quarter 2021 revenue exceeded the guidance previously provided by the Company during its third quarter earnings conference call on November 5, 2021 by 8%. After giving pro forma effect to the business combination with SBTech (Global) Limited (SBTech) and Diamond Eagle Acquisition Corp. which was... More
