DraftKings Stock Soars on Strong Earnings, Outlook | Global News Avenue

Draftkings(dkng) Stocks soared Friday after online sports betting platforms exceeded profit estimates and improved their prospects as they increased their customers and benefited from buying competitors’ shares.

The company raised the lower end of its revenue forecast to 2025 to $6.3 billion, and to $6.6 billion, from $6.2 billion to $6.6 billion.

In the fourth quarter of 2024, DraftKings released adjusted earnings per share (EPS), at 14 cents, an analyst consensus compiled by Visible Alpha. Revenue rose 13.2% year-on-year to $1.39 billion, slightly below forecasts.

The result is due to the company saying its unique players jumped 36% to 4.8 million per month. DraftKings also noted that it expanded to new jurisdictions, as well as the impact of its acquisition deposit.

and Competitors Shiver (flood) runs the Fanduel betting platform, Draftkings suggests that bets have won too many bets in the National Football League (NFL) game.

DraftKings shares rose nearly 14% in Friday’s intraday trading and already get More than 40% since the beginning of the year.