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DraftKings shares rise after reporting a beat on revenue, more growth in paying customers

DraftKings said it has 1.5 million monthly unique payers as of its fourth quarter.

2/26/2021 3:37:00 PM

DraftKings shares rise after reporting a beat on revenue, more growth in paying customers

DraftKings said it has 1.5 million monthly unique payers as of its fourth quarter.

Here are the key numbers:Revenue:$322 million vs. $232.6 million expected, according to RefinitivNet loss:$266.4 million. The company did not issue a figure for its loss per share.DraftKings said it now 1.5 million monthly unique paying customers as of its fourth quarter. It was estimated to report 1.43 million, according to Factset. Average revenue per monthly unique payer was $65 in the quarter, DraftKings said. The company surpassed

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1 millionusers in its third quarter.The company also raised its revenue outlook for the fiscal year 2021 from a range of $750 million to $850 million to a range of $900 million to $1 billion. DraftKings pointed to strong user activation due to its 2020 marketing spend, the launch of mobile sports betting and iGaming in Michigan and mobile sports betting in Virginia, and its performance in the fourth quarter.

"This guidance also assumes that all professional and college sports calendars that have been announced come to fruition and that we continue to operate in states in which we are live today," the company said.The growing sports-betting market in the U.S. has also allowed DraftKings to expand its market reach since it went public through a SPAC last April. headtopics.com

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