DraftKings Q3 Preview: Record NFL Betting and Prediction Market Impact
DraftKings Inc (NASDAQ:DKNG) is expected to present its third-quarter results on Thursday, with analysts focusing on record NFL betting volumes and the company’s growing moves into prediction markets. Alongside financial updates, investors will be eager to hear how DraftKings plans to compete in this evolving segment and the impact of its recent acquisition in the space.
Earnings Estimates
- Revenue is projected at $1.23 billion, an increase from $1.09 billion during the same quarter last year, according to Benzinga Pro.
- The company has exceeded analysts’ revenue expectations in five of the past ten quarters.
- Analysts anticipate a loss of 40 cents per share for Q3, compared with a 17-cent loss in the third quarter of the previous year.
- DraftKings has beaten earnings-per-share estimates in nine of the last ten quarters.
Analyst Commentary
Bank of America Securities analyst Shaun C. Kelley downgraded both DraftKings and peer company Flutter Entertainment (NYSE:FLUT) ahead of their upcoming earnings announcements.
Key Areas to Watch
- Performance and user growth in prediction markets.
- Progress in integrating recent acquisitions.
- Stability at critical technical support levels for DKNG shares.
Author Summary
DraftKings' third-quarter report will highlight record NFL betting and growing competition from prediction markets, with analysts closely watching its revenue growth and guidance.