DraftKings Q2 Revenue Misses, EPS Beats; Predictions Growth Surprises
DKNG is trading near its 52-week low of $20.46 (4.2% above the low) on elevated volume (2.0× avg).
Summary
DraftKings reported Q2 revenue of $1.44B, missing the $1.52B consensus, while EPS of $0.09 beat the $0.02 estimate. Revenue fell 5% YoY due to unfavorable sports outcomes and higher promotions. Sports consumer volume rose 15% to $13.1B, and MUPs grew 9% to 3.6M, but ARPMUP dropped 13% to $132. Full-year revenue and EBITDA guidance were maintained. CEO Robins highlighted that Predictions is growing faster than expected, boosting confidence for the NFL season. The stock is down slightly after hours, trading near its 52-week low.
At the time of this announcement, DKNG was trading at $21.31 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $11B. The 52-week trading range was $20.46 to $48.78. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.