DraftKings Reports First Quarter Revenue Growth of 53% to $1,175 million; Raises 2024 Revenue Guidance Midpoint to $4.9 Billion and 2024 Adjusted EBITDA Guidance Midpoint to $500 Million [...
DraftKings Inc. - Class A (DKNG)
Company Research
Source: Yahoo! Finance
The Company also posted a first quarter 2024 business update and an earnings presentation on the Investor Relations section of its website at investors.draftkings.com. First Quarter 2024 Highlights For the three months ended March 31, 2024, DraftKings reported revenue of $1,175 million, an increase of $405 million, or 53%, compared to $770 million during the same period in 2023. The increase in the Company's first quarter 2024 revenue was driven primarily by continued healthy customer engagement, efficient acquisition of new customers, the expansion of the Company's Sportsbook product offering into new jurisdictions, higher structural sportsbook hold percentage, and improved promotional reinvestment for Sportsbook and iGaming. “DraftKings' performance in the first quarter of 2024 was outstanding, reflecting healthy revenue growth and a scaled fixed cost structure that positions us to drive rapidly improving Adjusted EBITDA,” said Jason Robins, DraftKings' Chief Executive Officer
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News
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DKNG
Earnings
- 5/2/24 - Beat
DKNG
Sec Filings
- 5/17/24 - Form 8-K
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- DKNG's page on the SEC website