DraftKings reports 44% revenue growth and reduced losses, but misses estimates

Draftkings missed Wall Street's revenue and profit estimates in its recent quarterly report but still achieved a 44% revenue growth. The company also reported a net loss of $44.6 million for the last three months of 2023, a significant improvement from the previous year. Additionally, DraftKings plans to acquire lottery app Jackpocket for approximately $750 million and has increased its fiscal year guidance for 2024.

Draftkings quarterly report

draftkings missed Wall Street's revenue and profit estimates in its recent quarterly report but still achieved a 44% revenue growth. The company also reported a net loss of $44.6 million for the last three months of 2023, a significant improvement from the previous year.

Additionally, DraftKings plans to acquire lottery app Jackpocket for approximately $750 million and has increased its fiscal year guidance for 2024.