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Davy Research

DraftKings

Loss guidance narrows, good revenue growth

Aug 4 2023, 08:20 IST/BST
Paul Ruddy
Company Report
5 page(s)

Sectors : Gaming

Companies : DraftKings

Ratings and price correct at time of issue.

DraftKings

Closing Price: 2999c
RATING 23/03/21
NEUTRAL
PREVIOUS RATING N/A

Person's Name

Paul Ruddy

Analyst

DAVY VIEW

DraftKings reported Q2 results last night (August 3rd). It produced strong revenue growth in the quarter and has again upgraded guidance for FY revenue and profits. It has improved its revenue guidance by 10% at the mid-point and narrowed its FY EBITDA loss guidance by $110m. This is a good update with strong revenue growth, narrowing losses and evidence of cost discipline.

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Aug 4 2023, 08:20 IST/BST