DraftKings Inc. (NASDAQ: DKNG) stock soared 7.19% in pre-market trading on Thursday, following the release of its impressive second-quarter earnings report. The online sports betting giant significantly outperformed analyst expectations, demonstrating strong growth and maintaining its full-year outlook.

The company reported quarterly earnings of $0.38 per share, handily beating the analyst consensus estimate of $0.15 by a staggering 153%. This represents a significant increase compared to earnings of $0.22 per share in the same period last year. Revenue for the quarter came in at $1.51 billion, surpassing the analyst consensus estimate of $1.42 billion by 6.3% and marking a 36.9% year-over-year increase from $1.10 billion.

DraftKings' strong performance was driven by several factors, including healthy customer engagement, efficient acquisition of new customers, and a higher sportsbook hold percentage. The company reported an operating income of $150.644 million and a net income of $157.936 million for the quarter. Additionally, adjusted EBITDA reached $301 million, indicating improved profitability.

Despite the challenging economic environment, DraftKings maintained its full-year 2025 revenue guidance of $6.2-$6.4 billion, with expectations now leaning towards the higher end of this range. This reaffirmation of guidance, coupled with the stellar Q2 results, has likely contributed to the positive investor sentiment reflected in the pre-market stock movement.

The company's strong performance in Q2 and its optimistic outlook for the rest of the year suggest that DraftKings is well-positioned to capitalize on the growing online sports betting and gaming market. As the company continues to expand its user base and improve its operational efficiency, investors appear increasingly confident in its long-term growth prospects.