DraftKings Lowers Outlook After March Madness Dents Sales

Dow Jones

May 09, 2025

By Katherine Hamilton

DraftKings lowered its outlook for the year as customer-friendly outcomes during the March Madness basketball tournament weighed down revenue.

The sports-betting operator on Thursday posted a loss of $33.9 million, or 7 cents a share, compared with a loss of $142.6 million, or 30 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 12 cents, ahead of the 7 cents forecast of analysts, according to FactSet.

Revenue rose 20% to $1.41 billion. Analysts surveyed by FactSet forecast revenue of $1.43 billion.

DraftKings said customer-friendly sport outcomes weighed on revenue. During March Madness, many of the teams that dominated the tournament were favored to win, meaning many customers won bets.

"If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and Adjusted EBITDA guidance," Chief Executive Jason Robins said.

DraftKings instead lowered its full-year outlook. It is now expecting revenue between $6.2 billion and $6.4 billion, down from previous guidance of $6.3 billion to $6.6 billion.

Flutter Entertainment, which owns rival FanDuel, on Thursday missed estimates for sales and profit. The company raised its outlook for the year based on improving foreign-exchange rates and expected benefits from mergers and acquisitions.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

May 08, 2025 16:48 ET (20:48 GMT)

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The company raised its outlook for the year based on improving foreign-exchange rates and expected benefits from mergers and acquisitions. \n</p>\n<p>\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 08, 2025 16:48 ET (20:48 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DKNG","symbol_name":"DraftKings Inc.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2534816256","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2534816256","pubTimestamp":1746737280,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"DraftKings lowered its outlook for the year as customer-friendly outcomes during the March Madness basketball tournament weighed down revenue.The sports-betting operator on Thursday posted a loss of $33.9 million, or 7 cents a share, compared with a loss of $142.6 million, or 30 cents a share, a year earlier.Stripping out certain one-time items, adjusted per-share earnings were 12 cents, ahead of the 7 cents forecast of analysts, according to FactSet.DraftKings said customer-friendly sport outcomes weighed on revenue. 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It is now expecting revenue between $6.2 billion and $6.4 billion, down from previous guidance of $6.3 billion to $6.6 billion.Flutter","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"DKNG":"DraftKings Inc."},"translate_title":"三月份的疯狂行为削弱了销售后，DraftKings下调了前景","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DKNG":0.9},"content_text":"By Katherine Hamilton \n\n\n  DraftKings lowered its outlook for the year as customer-friendly outcomes during the March Madness basketball tournament weighed down revenue. \n\n\n  The sports-betting operator on Thursday posted a loss of $33.9 million, or 7 cents a share, compared with a loss of $142.6 million, or 30 cents a share, a year earlier. \n\n\n  Stripping out certain one-time items, adjusted per-share earnings were 12 cents, ahead of the 7 cents forecast of analysts, according to FactSet. \n\n\n  Revenue rose 20% to $1.41 billion. Analysts surveyed by FactSet forecast revenue of $1.43 billion. \n\n\n  DraftKings said customer-friendly sport outcomes weighed on revenue. During March Madness, many of the teams that dominated the tournament were favored to win, meaning many customers won bets. \n\n\n  \"If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and Adjusted EBITDA guidance,\" Chief Executive Jason Robins said. \n\n\n  DraftKings instead lowered its full-year outlook. It is now expecting revenue between $6.2 billion and $6.4 billion, down from previous guidance of $6.3 billion to $6.6 billion. \n\n\n  Flutter Entertainment, which owns rival FanDuel, on Thursday missed estimates for sales and profit. 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