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Sports betting and iGaming company DraftKings Inc (NASDAQ:DKNG) reported third-quarter financial results after market close Thursday.
Here are the key highlights.
What Happened: DraftKings reported third-quarter revenue of $1.095 billion, up 39% year-over-year. The revenue total missed a Street consensus estimate of $1.112 billion according to data from Benzinga Pro.
The company said revenue growth came from strong customer engagement, the acquisition of new customers, the launch in new territories, and the impact of the acquisition of Jackpocket, which closed in May.
The company reported a loss of 17 cents per share, which beat a Street consensus estimate of a loss of 42 cents per share.
Monthly unique payers (MUP) were 3.6 million in the third quarter, up 55% year-over-year. Excluding the impact of the Jackpocket acquisition, monthly unique payers would have been up 27% year-over-year.
The average revenue per MUP was $103 in the third quarter, down 10% year over year. The lower revenue per payer was due to the Jackpocket acquisition. Excluding the Jackpocket acquisition, the ...
