{"id":80150,"date":"2023-11-03T05:47:49","date_gmt":"2023-11-03T09:47:49","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/draftkings-stock-pops-on-narrowing-loss-raised-fiscal-year-revenue-guidance\/"},"modified":"2023-11-03T05:47:52","modified_gmt":"2023-11-03T09:47:52","slug":"draftkings-stock-pops-on-narrowing-loss-raised-fiscal-year-revenue-guidance","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=80150","title":{"rendered":"DraftKings\u2019 stock pops on narrowing loss, raised fiscal year revenue guidance"},"content":{"rendered":"
\n

DraftKings Inc.\u2019s stock was up 7% in extended trading Thursday after the sports-gambling and fantasy web site posted quarterly results that topped analyst revenue and earnings estimates, and raised its full year guidance range. <\/p>\n

DraftKings
\n DKNG,
\n +6.43%<\/bg-quote>
\n reported a fiscal third-quarter net loss of $283.1 million, or 61 cents a share, compared with a net loss of $450.5 million, or $1 a share, in the same quarter a year earlier. Adjusted earnings were 35 cents a share. <\/p>\n

\n

Revenue was $789.9 million, compared with $501.9 million a year ago. <\/p>\n

Analysts surveyed by FactSet had expected on average a net loss of 79 cents a share on sales of $705 million. <\/p>\n

\u201cOur fantastic third quarter results demonstrate the positive impact of our product and technology investments as well as excellent preparation and execution by our entire organization,\u201d DraftkKings Chief Executive Jason Robins said in a statement announcing the results.<\/p>\n

DraftKings also raised its fiscal year revenue guidance to between $3.67 billion and $3.72 billion. <\/p>\n

Shares of DraftKings have sky-rocketed 154% this year, while the broader S&P 500 index
\n SPX,
\n +1.89%<\/bg-quote>
\n has increased 12%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

DraftKings Inc.\u2019s stock was up 7% in extended trading Thursday after the sports-gambling and fantasy web site posted quarterly results that topped analyst revenue and earnings estimates, and raised its full year guidance range. DraftKings DKNG, +6.43% reported a fiscal third-quarter net loss of $283.1 million, or 61 cents a share, compared with a net […]<\/p>\n","protected":false},"author":1,"featured_media":44597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-80150","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nDraftKings\u2019 stock pops on narrowing loss, raised fiscal year revenue guidance | iFintechWorld<\/title>\n<meta name=\"description\" content=\"DraftKings Inc.\u2019s stock was up 7% in extended trading Thursday after the sports-gambling and fantasy web site posted quarterly results that topped analyst\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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