Investago | logo
Investago | DraftKings doesn't give up and keeps growing: Q4 results beat expectations
Time to read: 1 minutes
DraftKings doesn't give up and keeps growing: Q4 results beat expectations

DraftKings (DKNG.US) shares surged more than 15% on Friday (Feb. 17) after the company posted better-than-expected Q4 financial results and raised its outlook for 2023.

DraftKings reported a loss of 53 cents per share on record revenue of $855 million (80.8% year-over-year growth), while Wall Street was expecting a loss of 59 cents per share on revenue of $800 million.


On a GAAP basis, the operating loss was down 37% from a year ago, and was only 27% of revenue instead of the previous 77%. CEO and co-founder Jason Robins said the company increased revenue 81% in the fourth quarter from a year ago and delivered positive adjusted EBITDA in both October and for the quarter. The company will focus on cost management to accelerate growth in adjusted EBITDA, and will continue to grow revenue through 2023.


The company raised its full-year revenue estimate to $2.85-3.05 billion, which is midpoint in line with consensus as more states legalize sports betting. Also, fresh data coming out of the Super Bowl weekend suggests the gaming industry could see a 30% increase this year. 




Analysis of InvestaGO



* Past performance is no guarantee of future results 

[1] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or the current economic environment, which may change. Such statements are not guarantees of future performance. They involve risks and other uncertainties that are difficult to predict. Results may differ materially from those expressed or implied by any forward-looking statements.



Test your knowledge
Are you curious about your trading level? Now it's time for you to take this trading quiz questions. In the quiz you will find a few questions which are designed that you will have a better understanding of trading after. We wish you best luck!
Related news
22. March 2023
Costco's Q2 Earnings Mostly Beat Expectations, Shares Dip 2%

Costco (COST) recently reported mostly positive fiscal second-quarter earnings, despite shares dropping over 2% after the announcement.*

Read more
14. March 2023
The growth of shared services as the tip of the iceberg

Alternative taxi and ride-sharing services are increasingly popular among customers all over the world. Broker InvestaGO compared how major players of the sharing economy are performing in Central Europe. I...

Read more
8. March 2023 jumps 30% after posting upbeat third quarter results

Equities company saw a 30% rise on Friday after posting upbeat third-quarter results. CEO Thomas Siebel sees a dramatic change in sentiment and expects the company to be profitable in fiscal year 2024...

Read more
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72.97% of retail investor's accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.