Shares of DraftKings (NASDAQ: DKNG) are up 5% premarket after it reported first-quarter earnings and raised 2022 revenue guidance.
The sports betting company reported a loss per share of $1.14, with revenue coming in at $417 million. Analysts expected a loss of $1.11 and revenue of $404 million.
Revenue rose 34% compared to $312 million during the same period in 2021.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Monthly Unique Payers grew to 2 million, representing a 29% increase compared to the first quarter of 2021. DraftKings said the rise reflects “strong unique payer retention” and acquisition across online sportsbook and iGaming products and expansion into new states. The average revenue per monthly unique payers was $67, an 11% increase compared to the previous year.
“We are not seeing any impact from inflationary pressures on customer demand, and we continue to improve the user experience by adding breadth and depth to our DFS, mobile sports betting, and iGaming products,” said said Jason Robins, DraftKings’ co-founder, Chief Executive Officer and Chairman of the Board.
The company raised its fiscal 2022 revenue guidance from a range of $1.85 billion to $2.0 billion to between $1.925 billion to $2.025 billion. It also improved its 2022 adjusted EBITDA guidance from between a loss of $825 million and $925 million to a loss of $760 million to $840 million.
After launches in New York and Louisiana, DraftKings is now live with mobile sports betting in 17 states, while it is also live with iGaming in 5 states.
