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After-the-fact Expert
DraftKings shares plunged 21.32% as investors assessed a Q3 report that missed market expectations. Revenue rose 16.2% year over year to $1.33 billion, but the company posted a non-GAAP loss of $0.53 per share and full-year revenue guidance whose midpoint was 3.1% below consensus. The report also outlined substantial investment in the company’s Predictions business.

For informational and educational purposes only. Not financial advice.

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00:00DraftKings plunged 21.32% today. What happened?
00:05DraftKings runs online sports betting and fantasy sports platforms, where customers can wager on games or enter fantasy contests.
00:15The sell-off came after third-quarter results fell short of Wall Street's expectations.
00:21According to Yahoo, revenue rose 16.2% year-over-year to $1.33 billion, but still missed estimates.
00:31Yahoo also reported that full-year revenue guidance trailed analysts' consensus, while the company's non-gap loss per share was
00:40significantly worse than expected.
00:42Together, the revenue miss, weaker guidance, and larger-than-expected loss gave investors several reasons to reassess the stock.
00:52Industrials rose 0.13% today, so this move ran against its own sector.
00:59A new post-market recap every trading day.

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