BOSTON (AP) — BOSTON (AP) — DraftKings Inc. (DKNG) on Thursday reported a loss of $242.7 million in its fourth quarter.
The Boston-based company said it had a loss of 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 62 cents per share.
The company posted revenue of $855.1 million in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $800.5 million.
For the year, the company reported that its loss narrowed to $1.38 billion, or $3.16 per share. Revenue was reported as $2.24 billion.
DraftKings expects full-year revenue in the range of $2.85 billion to $3.05 billion.
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