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Headline : NFL Bettors Sting DraftKings, Cost Company $250 Million

Read more from the original article on here at finance.yahoo.com.





Tags : #nfl #bettors #sting #draftkings #cost #company #250million


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DraftKings shares fell as much as 7% in late trading after the gaming company revised its fiscal 2024 estimates downwards due largely to NFL game outcomes that favored the public. Those results created a $250 million revenue headwind, according to the company’s CEO.

For the quarter that ended Sept. 30, DraftKings reported revenue of $1.1 billion, matching consensus estimates of $1.1 billion, per Yahoo Finance data. Losses per share of $0.60 were below average estimates of $0.42. Shares in after-hour trading quickly fell 7%.

The company also introduced fiscal 2025 revenue guidance for the first time. DraftKings said it projects next year’s revenue to be in the range of $6.2 to $6.6 billion, topping consensus estimates of about $5.86 billion.

Read more from the original article on here at finance.yahoo.com.


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