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Aug 7, 11:12 AM
DraftKings Revenue Surges 37%, Company Reaffirms Up-to-$6.4 Billion 2025 Goal
Company Earnings
Business

DraftKings Revenue Surges 37%, Company Reaffirms Up-to-$6.4 Billion 2025 Goal

Authors
  • Yahoo Finance
  • WSJ Business News
  • Mario Nawfal’s Roundtable
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DraftKings reported record second-quarter results, with revenue climbing 37% year over year to $1.513 billion, above the $1.41 billion analysts expected. Net income reached $157.9 million and adjusted EBITDA more than doubled to $301 million. Adjusted earnings per share came in at $0.38, comfortably topping the $0.28 consensus forecast. Customer engagement continued to strengthen. The company averaged 3.3 million Monthly Unique Payers in the quarter, a 6% increase from a year earlier, while average revenue per user rose 29% to $151, helped by a higher sportsbook hold and tighter promotional spending. Management reaffirmed full-year guidance for revenue of $6.2 billion to $6.4 billion and adjusted EBITDA of $800 million to $900 million, saying results are trending toward the upper end of the revenue range. DraftKings said the forecast now factors in a planned mobile sports-betting launch in Missouri later this year but excludes any potential contribution from a still-unlaunched prediction-markets offering the company continues to evaluate.

Written with ChatGPT .

Additional media

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