CNBC
DraftKings shares rise after reporting a beat on revenue, more growth in paying customers
DraftKings said it has 1.5 million monthly unique payers as of its fourth quarter.
New England Patriots cornerback Stephon Gilmore (24) stretches during the New England Patriots practice session in Foxborough, MA on Oct. 22, 2020.
Barry Chin | Boston Globe | Getty Images
Shares of sports betting company DraftKings jumped as much as 8.4% Friday after the company reported fiscal fourth quarter 2020 earnings that beat revenue expectations and growth in paying customers.
The company’s stock closed up nearly 6.5%.
Here are the key numbers:
- Loss per share: 24 cents, vs. an expected loss of 47 cents, according to a Refinitiv survey of analysts
- Revenue: $322 million vs. $232.6 million expected, according to Refinitiv
DraftKings said it now 1.5 million monthly unique paying customers as of its fourth quarter. It was estimated to report 1.43 million, according to Factset. Average revenue per monthly unique payer was $65 in the quarter, DraftKings said. The company surpassed 1 million users in its third quarter.
The company also raised its revenue outlook for the fiscal year 2021 from a range of $750 million to $850 million to a range of $900 million to $1 billion. DraftKings pointed to strong user activation due to its 2020 marketing spend, the launch of mobile sports betting and iGaming in Michigan and mobile sports betting in Virginia, and its performance in the fourth quarter.
“This guidance also assumes that all professional and college sports calendars that have been announced come to fruition and that we continue to operate in states in which we are live today,” the company said.
The growing sports-betting market in the U.S. has also allowed DraftKings to expand its market reach since it went public through a SPAC last April.
Currently, 20 states, plus Washington, D.C., allow online sports betting, up from 19 this past quarter. Five states legalized sports wagering but are not yet operational, and 16 states are working on legislation, up from six and two, respectively.
The company’s stock closed up nearly 6.5%.
Source: https://www.cnbc.com/2021/02/26/draftkings-dkng-q4-2020-earnings.html
© 2021 CNBC LLC. All Rights Reserved. A Division of NBCUniversal
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
Market Data Terms of Use and Disclaimers
Data also provided by 
Source: https://www.cnbc.com/earnings/
CNBC
International: Top News And Analysis
CNBC International is the world leader for news on business, technology, China, trade, oil prices, the Middle East and markets.
© 2021 CNBC LLC. All Rights Reserved. A Division of NBCUniversal
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
Market Data Terms of Use and Disclaimers
Data also provided by
Source: https://www.cnbc.com/us-top-news-and-analysis/
© 2021 CNBC LLC. All Rights Reserved. A Division of NBCUniversal
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
Market Data Terms of Use and Disclaimers
Data also provided by
Source: https://www.cnbc.com/earnings/
ZwartTech launches Talent Foundation to equip Africans with digital skills
Lagos-based ZwartTech has announced the launch of its new edtech, Zwart Talent Foundation (ZTF) in a statement on 30 July...
Earnings
Corporate Company Earnings, Find Earnings Per Share and Earnings History Online
Reduced microbial stability linked to soil carbon loss in active layer under alpine permafrost degra
Credit: NIEER Chinese researchers have recently discovered links between reduction in microbial stability and soil carbon loss in the active
Chipmaker TSMC says too early to say on Germany expansion
Taiwan Semiconductor Manufacturing Co Ltd (TSMC) (2330.TW) said on Monday that it was too early to say whether it will...
SNMMI Image of the Year: PET imaging measures cognitive impairment in COVID-19 patients
Credit: G Blazhenets et al., Department of Nuclear Medicine, Medical Center - University of Freiburg, Faculty of Medicine, University of
The DL on CockroachDB – TechCrunch
As college students at Berkeley, Spencer Kimball and Peter Mattis created a successful open-source graphics program, GIMP, which got the...
International: Top News And Analysis
CNBC International is the world leader for news on business, technology, China, trade, oil prices, the Middle East and markets.
Ethereum is Expected to Undergo a 90% Daily Emission Reduction Following ETH 2.0 Upgrade
Market analyst Lark Davis believes that Ethereum 2.0 upgrade will prompt a 90% daily emission reduction from 12,800 to 1,280.
EXCLUSIVE India watchdog accuses Amazon of concealing facts in deal for Future Group unit
India's antitrust regulator has accused Amazon.com Inc (AMZN.O) of concealing facts and making false submissions when it sought approval for...
Scientists demonstrate promising new approach for treating cystic fibrosis
Scientists led by UNC School of Medicine researchers Silvia Kreda, Ph.D., and Rudolph Juliano, Ph.D., created an improved oligonucleotide therapy
-
Ethicalmarkets9 months agoFinance for Biodiversity – Aligning Development Finance with Nature’s Needs: Protecting Nature’s Development Dividend
-
Bioengineer8 months agoScientists warn of the social and environmental risks tied to the energy transition
-
Business insider2 months agoPrime Minister of Dominica Provides Update on International Airport and Importance of Citizenship by Investment Funds to Public Sector
-
Ethicalmarkets9 months agoThird TCFD Status Report Shows Progress & Highlights Need for Greater Climate-Related Disclosures and Transparency
-
Business insider9 months ago10 things you need to know before the opening bell | Markets Insider
-
Bioengineer1 month agoParticles with ‘eyes’ allow a closer look at rotational dynamics
-
Business insider3 months agoA 29-year-old crypto billionaire who’s made millions from digital-currency arbitrage shares 2 tips for investors looking to get started in trading- and explains why ether is unlikely to surpass…
-
Business insider4 months agoSquare’s Cash App is hiring for a slew of positions hinting at plans to attract more merchants and compete directly with payment networks like Mastercard and Visa