DraftKings stock on Thursday attempted to climb out of a buy zone following its quarterly report late Wednesday. Flutter Entertainment, parent of DraftKings rival FanDuel, is trading in a buy zone after its late earnings report.
DraftKings reported earnings of 32 cents per share, on 37% revenue growth to $1.51 billion.
FactSet expected earnings of 15 cents per share on $1.42 billion in revenue.
DraftKings reported that adjusted earnings increased to 38 cents per share, while analysts expected 39 cents per share.
Monthly unique players (MUPs) rose 6% to 3.3 million, compared to estimates for 3.85 million. The average revenue per MUP jumped 29% to $151. Analysts expected $122.23 in revenue per monthly player.
DraftKings credited the growth to strong unique player retention and acquisition.
Sportsbook revenue surged 45% to $997.8 million. Analysts expected $908 million.
The company's sportsbook handle, which represents the total amount wagered by bettors, rose 6.3% to $11.47 billion.
DraftKings reported that iGaming revenue increased almost 26% to $429.7 million, which edged out views for $429 million.
Daily fantasy sports and other revenue increased 27% to $84.97 million. FactSet expected $83 million in revenue for the segment.
DraftKings maintained its revenue forecast for the year, which the company lowered in Q1 to range from $6.2 billion to $6.4 billion, from $6.3 billion to $6.6 billion. CEO Jason Robins noted that DraftKings expects revenue to be closer to the high end of the range.
DraftKings Stock
DKNG stock advanced 2% early Thursday, the reversed to decline slightly. The stock is trading in a buy zone for a cup-with-handle base. Shares rose about 1% during Wednesday trade.
DraftKings first broke out above the 43.59 buy point on July 10.
Shares are up about 21% this year.
Flutter Entertainment reported a 45% increase in earnings to $2.95 per share adjusted on 16% revenue growth to $4.19 billion.
FactSet expected the FanDuel parent to report earnings of $2.24 per share on $4.13 billion in revenue.
The average monthly players grew 11% from last year.
Flutter stock is also trading in a buy zone, above a 299.73 cup base buy point. Shares cleared the entry in early July, as part of a base-on-base formation.
FLUT stock ticked higher Thursday. Shares eased slightly in after hours trade.
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