DraftKings enhances 2023 guidance following successful Q2

DraftKings enhances 2023 guidance following successful Q2

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DraftKings enhances 2023 guidance following successful Q2

DraftKings has recently published its financial performance report for the second quarter of 2023.

The analysis started off with the company’s revenue figure, which surpassed 874 million dollars. This was a massive increase of around 88% in comparison to the company’s revenue in the same period last year, which was recorded at only 466 million dollars. This also led to an EBITDA of just under 73 million dollars, up from last year’s loss of more than 118 million dollars.

DraftKings’ excellent performance was also reflected in its H1 2023 results, which showed a revenue figure of 1.64 billion dollars, up by 86% from last year’s 866 million dollars. The company’s EBITDA for the first half saw an increase as well, however, it is still in the negatives at a loss of 148 million dollars.

The firm also experienced an increase in its monthly unique customer figures, which went up by 44% in the quarter to 2.1 million players on average. The company also was able to generate a higher revenue per unique player, the figure for which went up by 33% to 137 dollars.

All of these increases have led DraftKings to enhance its predictions for the end of the year, with the firm now forecasting an FY2023 revenue between 3.46 billion and 3.54 billion dollars, up from its previous expectation between 3.14 billion and 3.24 billion dollars. Furthermore, the new targets now represent a yearly growth between 54% and 58% for the company.

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