Draftkings Inc reports results for the quarter ended March 31 - Earnings Summary

• Draftkings Inc DKNG.OQ reported a quarterly adjusted loss of 7 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -30 cents. The mean expectation of twenty five analysts for the quarter was for a loss of 8 cents per share. Wall Street expected results to range from -28 cents to 7 cents per share.

• Revenue rose 19.9% to $1.41 billion from a year ago; analysts expected $1.45 billion.

• Draftkings Inc's reported EPS for the quarter was a loss of 7 cents​.

• The company reported a quarterly loss of $33.86 million.

• Draftkings Inc shares had risen by 4.4% this quarter and lost 6.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 885.6% in the last three months.​

• In the last 30 days, fifteen analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 29 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell." The average consensus recommendation for the casinos & gaming peer group is also "buy"

• Wall Street's median 12-month price target for Draftkings Inc is $55.00

This summary was machine generated from LSEG data May 9 at 02:19 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)