DraftKings posts 44% revenue growth and narrowing losses, but falls short of estimates
Publishing timestamp: 2024-02-16 12:23:36
Summary
DraftKings posted fourth-quarter results that missed Wall Street's estimates, but still saw a 44% growth in revenue and a 37% increase in monthly unique payers. The CEO attributed the missed estimates to unfavorable outcomes from NFL games. Despite the challenges, the company's customer experience outperformed expectations. DraftKings also increased its fiscal year 2024 guidance and announced plans to acquire lottery app Jackpocket.
Sentiment: MIXED
Keywords: penn entertainment inc, business, business news, earnings, flutter entertainment plc, sports, entertainment, draftkings inc, gambling,