BOSTON (AP) — BOSTON (AP) — DraftKings Inc. (DKNG) on Thursday reported a loss of $256.8 million in its third quarter.
On a per-share basis, the Boston-based company said it had a loss of 52 cents. Losses, adjusted for one-time gains and costs, were 26 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The company posted revenue of $1.14 billion in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $1.21 billion.
DraftKings expects full-year revenue in the range of $5.9 billion to $6.1 billion.
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