DraftKings Q3 Preview: NFL Betting Records and Prediction Markets Impact
DraftKings is set to present its Q3 financial results on Thursday after market close, with a special focus on its moves in the prediction markets. Investors and analysts are likely to inquire about the growth of the prediction market sector and how DraftKings is positioning itself within this space.
Q3 Earnings Estimates
- Revenue is expected to reach $1.23 billion, up from $1.09 billion in Q3 of the previous year, according to Benzinga Pro.
- DraftKings has exceeded revenue estimates in five of the last ten quarters, including the recent Q2 report.
- Analysts anticipate a Q3 loss of 40 cents per share, wider than the 17 cents loss reported in the same quarter last year.
- The company has beaten earnings per share estimates in nine of the past ten quarters, including Q2.
Market and Analyst Commentary
"Bank of America Securities analyst Shaun C. Kelley downgraded both DraftKings and peer company Flutter Entertainment ahead of their upcoming earnings reports."
DraftKings is also currently testing key support levels, adding to the cautious outlook as earnings approach.
Key Points to Watch
- Details on competition with prediction markets and recent acquisitions.
- Performance in NFL betting, expected to set new records this quarter.
- Guidance on future sector growth and financial outlook.
Read Also: Top Stocks With Earnings This Week: Joby, IonQ, AMD and More
Summary
DraftKings is poised to report robust Q3 revenue growth driven by NFL betting, while navigating challenges from prediction markets and earnings pressure.