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Mangeet Kaur Bouns

Is DraftKings a Buy Before the Next Sports Betting Surge?

DKNG DraftKings Mangeet Kaur BounsMangeet DraftKings Inc US Federal Reserve

DraftKings Inc. (DKNG), a leading digital sports entertainment and gaming company, reported mixed second-quarter 2024 performance. DraftKings posted revenue of $1.10 billion, up $230 million from the same period of 2023. Despite an impressive year-over-year growth, the company’s revenue fell short of analysts’ estimate of $1.12.

DKNG reported an adjusted earnings per share of $0.22, compared to the consensus estimate of $0.19. The online sports betting company raised its 2024 revenue guidance midpoint to $5.15 billion. However, DraftKings lowered its full-year adjusted EBITDA guidance midpoint from $500 million to $380 million.

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