BOSTON (AP) — BOSTON (AP) — DraftKings Inc. (DKNG) on Thursday reported a loss of $142.6 million in its first quarter.
The Boston-based company said it had a loss of 30 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 28 cents per share.
The company posted revenue of $1.17 billion in the period, beating Street forecasts. Nine analysts surveyed by Zacks expected $1.13 billion.
DraftKings expects full-year revenue of $4.9 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DKNG at https://www.zacks.com/ap/DKNG
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
