DraftKings Inc. reported a significant earnings beat for Q1 2024, with adjusted EPS of $0.03, surpassing the expected loss of $0.26 per share. The company's revenue for the quarter was $1.18 billion, exceeding estimates of $1.12 billion and marking a 53% increase year-over-year. This performance led DraftKings to raise its full-year revenue guidance from a range of $4.65 billion to $4.90 billion to between $4.8 billion and $5.0 billion. Additionally, DraftKings adjusted its full-year adjusted EBITDA guidance to $500 million. The company also reported a substantial improvement in its operating cash flow, reaching $151 million in adjusted EBITDA for Q1, compared to a loss in previous years. Furthermore, DraftKings had 3.4 million average monthly unique paying customers in Q1, up 23% YoY, and the average revenue per monthly unique payer grew 25%.