MW DraftKings rallies on upbeat full-year sales outlook, which doesn't include this big event

By Bill Peters

Forecast does 'not include the benefit of year-to-date sport outcomes,' company says

Shares of DraftKings Inc. rose after hours Thursday after the sports-betting platform offered a more optimistic sales outlook for this year, as it moves ahead with things like live betting and deepens its push into U.S. states where betting is newly legal.

The company said it now expects sales of $6.3 billion to $6.6 billion for 2025, compared with a prior forecast for $6.2 billion to $6.6 billion. But as analysts try to gauge the impact from last weekend's Super Bowl, DraftKings (DKNG) said that forecast did "not include the benefit of year-to-date sport outcomes."

Shares were up 6.6% after hours on Thursday. As of Thursday's close, the stock is up 4.5% over the past 12 months.

For the fourth quarter, DraftKings reported sales of $1.39 billion, up 13% year over year, helped by new customers, expansion and the acquisition of Jackpocket last year. Those trends were "partially offset by customer-friendly outcomes throughout the NFL season." The company said it lost 28 cents a share during the quarter.

Analysts polled by FactSet expected DraftKings to lose 17 cents a share during the fourth quarter, on revenue of $1.39 billion.

This is a developing story. Check back for updates.

-Bill Peters

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February 13, 2025 16:46 ET (21:46 GMT)

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