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via seekingalpha.comBusiness & Companies

DraftKings slides after unprofitable quarter despite solid revenue growth

FROM THE WIRE · SEEKINGALPHA.COM

DraftKings (DKNG [https://seekingalpha.com/symbol/DKNG]) tumbled after reporting another loss with its third quarter earnings report. Revenue was up 16% year-over-year in Q3 to $1.33B, driven primarily by continued healthy customer engagement and higher sportsbook net revenue…

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA bigger-than-expected loss weighs on the stock despite revenue growth.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Q3 revenue rose 16% year over year to $1.33 billion.
  2. 02EPS was -$0.53, worse than the -$0.25 consensus.
  3. 03Adjusted EBITDA was -$316.9 million versus a -$65.9 million consensus.
NEWS IMPACT AND MARKET REACTIONChange since the story · reference
DraftKings Inc.DKNGStock23.52 USDMarket closedtoday +1.77%Negative Flutter Entertainment plcFLUTStock82.97 USDMarket closedtoday +1.44%Neutral
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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