DraftKings Reports Q4 Loss, Misses Estimates

DraftKings Inc. (DKNG) announced a net loss of $134.9 million for its fourth quarter, ending December 31, 2023. This translates to a per-share loss of 28 cents, falling short of analysts' estimates of 19 cents per share.

Revenue for the quarter reached $1.39 billion, also below expectations. Nine analysts polled by Zacks Investment Research had forecast $1.41 billion.

For the full year, DraftKings projects revenue between $6.3 billion and $6.6 billion.