Earnings To Watch: DraftKings (DKNG) Reports Q3 Results Tomorrow
DraftKings Inc (NASDAQ: DKNG) will report its Q3 results this Thursday afternoon. The company, known for fantasy sports and betting, delivered strong performance last quarter, beating analysts’ revenue expectations by 5.9% with $1.51 billion in revenue—a 36.9% increase year over year.
Last quarter also saw DraftKings surpass analysts’ adjusted operating income and EBITDA estimates. The user base grew to 3.3 million, a 6.5% rise from the previous year.
This quarter, analysts expect revenue growth to slow to 10.6% year over year, reaching $1.21 billion, down from the 38.7% rise a year ago. The adjusted loss per share is anticipated at -$0.26. Analysts have largely maintained their estimates in the past month, signaling steady expectations for the company.
Over the last two years, DraftKings has missed Wall Street’s revenue estimates five times. In comparison, some of its peers in the gaming sector have reported their Q3 results:
- Rush Street Interactive posted 19.7% revenue growth year over year, beating estimates by 4.3%.
- Accel Entertainment reported a 9% increase in revenues.
"DraftKings beat analysts’ revenue expectations by 5.9% last quarter, reporting revenues of $1.51 billion, up 36.9% year on year."
Analysts appear cautious but optimistic, expecting the business to maintain momentum through earnings.
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