Earnings

DraftKings (DKNG) Q4 2021 earnings

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Shares of DraftKings fell more than 20% Friday morning after it posted fourth-quarter earnings that beat analyst estimates for the quarter but revealed the company expects a greater adjusted loss for 2022 than analysts had projected.

Here’s what the company reported:

  • Loss per share: 35 cents, ex-items vs 81 cents estimated, according to a Refinitiv survey of analysts
  • Revenue: $473 million vs $445 million estimated, according to Refinitiv

But DraftKings said it expected an adjusted EBITDA loss for 2022 between $825 million and $925 million, much higher than the estimated adjusted EBITDA loss of $572.7 million, according to StreetAccount.

The company showed that it’s spending more on marketing…



Source cnbc.com

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