Draftkings Inc reports results for the quarter ended June 30 - Earnings Summary

• Draftkings Inc DKNG reported quarterly adjusted earnings of 30 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 12 cents. The mean expectation of twenty six analysts for the quarter was for earnings of 15 cents per share. Wall Street expected results to range from 7 cents to 24 cents per share.

• Revenue rose 36.9% to $1.51 billion from a year ago; analysts expected $1.42 billion.

• Draftkings Inc's reported EPS for the quarter was 30 cents​.

• The company reported quarterly net income of $157.94 million.

• Draftkings Inc shares had risen by 4.8% this quarter and gained 20.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 28.9% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 31 "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the casinos & gaming peer group is also "buy"

• Wall Street's median 12-month price target for Draftkings Inc is $53.00, about 14.4% above its last closing price of $45.36

This summary was machine generated from LSEG data August 7 at 01:49 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)