DraftKings Inc shares fell 15.4% in pre-conference trading, as the entertainment, digital sports and gaming company announced an expansion of losses compared to last year, while revenues rose higher than expected and costs soared.
Specifically, net losses widened to $ 326.3 million from $ 242.7 million, while losses per share widened to 80 cents from 69 cents.
Excluding extraordinary items, adjusted losses per share widened to 35 cents from 24 cents.
Revenue rose 46.9% to $ 473.3 million, compared with estimates for $ 446 million, while revenue rose 59% to $ 253.2 million and sales and marketing rose 45.1% to $ 473.3 million. $ 278.4 million.
For 2022, the company upgraded revenue estimates to $ 1.85-2 billion from $ 1.7-1.9 billion, against convergent estimates of $ 1.90 billion.
Source: Capital
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