00:00It's Benzinga, bringing Wall Street to Main Street.
00:03DraftKings reported first quarter earnings of 20 cents per share on $1.646 billion in revenue,
00:09surpassing Wall Street estimates of 2 cents per share and $1.644 billion, according to Benzinga Pro.
00:17Revenue increased 17% year-over-year as customer acquisition and engagement remained strong.
00:24Monthly unique payers fell 4% year-over-year to 4.2 million,
00:28but increased 2%, excluding the company's exit from lottery in Texas.
00:33Average revenue per monthly unique payer increased 21% year-over-year to $131.
00:41DraftKings reaffirmed full-year revenue guidance of $6.5 billion to $6.9 billion
00:47versus analyst estimates of $6.82 billion and projected adjusted Abbott DA of $700 million to $900 million.
00:56CEO Jason Robbins said profitability is improving as the company expands its sports predictions business.
01:03Shares fell 1.3% to $24.90 in after-hours trading.
01:08For all things money, visit Benzinga.com.
Comments