Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why DraftKings Stock Dropped Today

TheMotleyFool

0 0

Shares of DraftKings (NASDAQ: DKNG) fell 8.9% on Friday, even after the online gambling leader boosted its full-year revenue and earnings forecast.

The company's revenue jumped 34% year over year to $417 million in the first quarter. Expansion into states that recently legalized sports betting and solid results from the company's customer acquisition, engagement, and retention efforts contributed to these impressive gains.

In all, DraftKings' monthly unique payers leaped 29% to 2 million. Those customers also spent more on its betting platforms despite many facing significant economic challenges, such as higher energy, food, and housing costs. All told, the company's average revenue per payer rose 11% to $67.

Source Fool.com

Like: 0

DKNG

Share