draftkings cuts 2024 revenue and profit forecast shares decline

DraftKings Inc. has adjusted its revenue and profit estimates for 2024 due to a challenging start to the fourth quarter.

The company now expects sales between $4.85 billion and $4.95 billion, lower than its previous forecast of $5.25 billion.

This revision falls short of analysts' expectations, who had predicted revenue of $5.13 billion.

Following this announcement, DraftKings shares declined in extended trading, reflecting investor concerns about the company's performance.

The updated guidance highlights the ongoing difficulties faced by DraftKings in the competitive sports betting market.

Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings