By Katherine Hamilton
DraftKings' fourth-quarter earnings missed Wall Street expectations, but shares rose after it raised its outlook for 2025 revenue.
The stock was up about 2%, to $46.42, on Thursday. Shares have gained about 5% over the past year.
The fantasy sports and betting platform posted a loss of $134.9 million, or 28 cents a share, in the three months ended Dec. 31, compared with $44.62 million, or 10 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were 14 cents, behind the 19 cents forecast by analysts, according to FactSet.
Revenue rose 13%, to $1.39 billion. Analysts surveyed by FactSet forecast revenue of $1.40 billion.
DraftKings raised its 2025 revenue guidance to a range of $6.3 billion to $6.6 billion, up from its previous guidance of $6.2 billion to $6.6 billion. Analysts polled by FactSet are expecting $6.40 billion in revenue.
Continued customer engagement and efficient acquisition of new customers helped drive revenue, DraftKings said. It was able to get new customers by launching its sportsbook in more jurisdictions and closing its acquisition of Jackpocket, it said.
Monthly unique players increased 36%, to 4.8 million, in the fourth quarter, but average revenue per player declined 16%, to $97. The decrease in revenue per player was primarily due to lower numbers from Jackpocket customers.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 13, 2025 16:40 ET (21:40 GMT)
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