DraftKings Inc. (DKNG) on Friday reported a loss of $305.5 million in its second quarter.
On a per-share basis, the Boston-based company said it had a loss of 76 cents.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 61 cents per share.
The company posted revenue of $297.6 million in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $240.8 million.
DraftKings expects full-year revenue in the range of $1.21 billion to $1.29 billion.
DraftKings shares have increased slightly more than 8% since the beginning of the year. The stock has risen 55% in the last 12 months.
Submitted August 06, 2021 at 09:09AM by KingTimKap https://ift.tt/2X1wfGm
