BOSTON (AP) — BOSTON (AP) — DraftKings Inc. (DKNG) on Thursday reported a loss of $293.7 million in its third quarter.
On a per-share basis, the Boston-based company said it had a loss of 60 cents.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 42 cents per share.
The company posted revenue of $1.1 billion in the period, which also missed Street forecasts. Nine analysts surveyed by Zacks expected $1.12 billion.
DraftKings expects full-year revenue in the range of $4.85 billion to $4.95 billion.
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