BUZZ-DraftKings drops as Q3 revenue falls short of estimates

Reuters

Nov 07

** Shares of gaming company DraftKings DKNG.O down 6.97% at $26.03 premarket after Q3 rev misses estimates

** Co says Q3 revenue rises 4% YoY to $1.14 bln due to solid engagement despite customer-friendly sport outcomes

**But it missed consensus estimate of $1.40 bln, acording to data compiled by LSEG

** Co revises FY25 revenue guidance to $5.9 bln–$6.1 bln; expects adjusted EBITDA of $450 mln–$550 mln driven by customer engagement and strong Monthly Unique Payers (MUP) growth

** MUPs grow 2% to 3.6 mln, supported by strong retention and acquisition in Sportsbook and iGaming

** Avg rating of 36 analysts is “buy”; median PT is $51 – LSEG

** Stock down 24.78% YTD, as of last close

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))

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expects adjusted EBITDA of $450 mln–$550 mln driven by customer engagement and strong Monthly Unique Payers (MUP) growth** MUPs grow 2% to 3.6 mln, supported by strong retention and acquisition in Sportsbook and iGaming** Avg rating of 36 analysts is “buy”; median PT is $51 – LSEG ** Stock down 24.78% YTD, as of last close (Reporting by Tharuniyaa Lakshmi in Bengaluru) ((tharuniyaa@thomsonreuters.com))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}