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 story : DraftKings stock shoots up after narrower-than-expected loss, revenue that climbed above forecasts #FinanceUSA #StockMarketNEWS Shares of DraftKings Inc. shot up 9.4% toward a four-month high in premarket

@stockMarketNEWS 6 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

DraftKings stock shoots up after narrower-than-expected loss, revenue that climbed above forecasts #FinanceUSA #StockMarketNEWS
Shares of DraftKings Inc. shot up 9.4% toward a four-month high in premarket trading Friday, after the digital sports entertainment and gaming company reported a narrower-than-expected loss, revenue that rose above forecasts and lifted its full-year outlook, saying it is seeing "no perceivable impact" from broader macroeconomic pressures. The net loss narrowed to 7.1 million, or 50 cents a share, from 5.5 million, or 76 cents a share, in the year-ago period. The FactSet per-share loss consensus was 75 cents. Revenue jumped 56.6% to 6.2 million, above the FactSet consensus of 8.6 million. Cost of revenue climbed 67.2% to 2.8 million, while sales and marketing increased 15.7% to 7.5 million. The company revised its 2022 revenue guidance range to .08 billion to .18 billion from .055 billion to .175 billion, to raise the midpoint of guidance to .13 billion from .115 billion. The stock has rallied 13.3% over the past three months through Thursday, while the S&P 500 has ticked up 0.1%.


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