DraftKings Reports Second Quarter Revenue of $466 million; Second Quarter B2C Revenue Increases 68% YOY; Revenue Exceeds Midpoint of Guidance by More Than $30 million and Adjusted EBITDA Outperforms M

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Go back to DraftKings Reports Second Quarter Revenue of $466 million; Second Quarter B2C Revenue Increases 68% YOY; Revenue Exceeds Midpoint of Guidance by More Than $30 million and Adjusted EBITDA Outperforms M

Shares of DraftKings (DKNG) Trade Up Following Strong 2Q Report

August 5, 2022 1:33 PM EDT

Shares of DraftKings Inc. (NASDAQ: DKNG) are up more than 12% in mid-day trading Friday after the company reported 2Q results and offered forward-looking commentary during the earnings call.

The sports betting company reported 2Q revenue of $466 million, an increase of 57% compared to $298 million during the same period in 2021. Both revenue and Adjusted EBITDA outperformed the midpoints of their respective guidance ranges... More