Earnings to Watch: DraftKings (DKNG) Reports Q3 Results Tomorrow
Fantasy sports and betting company DraftKings (NASDAQ: DKNG) is set to announce its third-quarter results on Thursday afternoon. The company’s previous quarter showed strong performance, with results surpassing analysts’ estimates across multiple metrics.
Previous Quarter Highlights
- Revenue reached $1.51 billion, a 36.9% year-over-year increase.
- Revenue exceeded analyst expectations by 5.9%.
- Adjusted operating income and EBITDA both came in above forecasts.
- Total users grew to 3.3 million, marking a 6.5% annual rise.
Upcoming Quarter Projections
For this quarter, analysts expect DraftKings to generate around $1.21 billion in revenue, up 10.6% year over year. This indicates slower growth compared to the 38.7% jump recorded in the same period last year.
The company is projected to post an adjusted loss of -$0.26 per share. Analysts have maintained their forecasts over the past month, suggesting expectations of steady performance heading into the earnings release.
Performance Context and Industry Comparison
Over the past two years, DraftKings has missed Wall Street revenue estimates on five occasions. To gain perspective from the broader industry, other gaming companies have already shared their latest results:
- Rush Street Interactive reported revenue growth of 19.7%, surpassing expectations by 4.3%.
- Accel Entertainment posted a 9% revenue increase
“Is DraftKings a buy or sell going into earnings? Read our full analysis here — it’s free for active Edge members.”
Author’s Summary
DraftKings continues to deliver strong growth, though at a moderating pace, with upcoming earnings expected to show steadier progress in a competitive betting and gaming market.