DraftKings (NASDAQ:DKNG) caught DKNG stock investors off guard on Friday when the sports betting company announced a new gaming tax surcharge in its latest earnings report. During that report, DraftKings cofounder and CEO Jason Robins revealed plans to implement a gaming tax surcharge. He said this would be for states with high taxes that already have several mobile sports betting operators. According to Robins, this gaming tax surcharge won't go into effect until the start of 2025. He claims it could bring ...

Shares of DraftKings Inc DKNG tanked in early trading on Friday, after the company reported its secondquarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways. Benchmark analyst Mike Hickey reaffirmed a Buy rating, while cutting the price target to $41. Truist Securities analyst Barry Jonas maintained a Buy rating and price target of $53. JMP Securities analyst Jordan Bender reiterated a Market Outperform rating and price target of $52. Goldman Sachs analyst Be ...

DraftKings Inc. (NASDAQ:DKNG) Q2 2024 Earnings Conference Call August 2, 2024 8:30 AM ET Company Participants Stanton Dodge - Chief Legal Officer Jason Robins - Co-Founder and Chief Executive Officer Alan Ellingson - Chief Financial Officer Conference Call Participants David Katz - Jefferies Shaun Kelley - BofA Stephen Grambling - Morgan Stanley Joe Greff - JPMorgan Clark Lampen - BTIG Robert Fishman - MoffettNathanson Ben Miller - Goldman Sachs Robin Farley - UBS Dan Politzer - Wells Fargo Joe Stauff - Sus ...

DraftKings' Q2 report arrived with some notable positives, but investors aren't liking the big picture. DraftKings (DKNG -9.75%) stock is getting hit hard in Friday's trading. The online gambling specialist's share price was down 11.6% at 11:30 a.m. ET, according to data from S&P Global Market Intelligence. DraftKings published its second-quarter results after the market closed yesterday, delivering mixed results. While the company's earnings beat expectations, sales for the period fell short of Wall Street ...

Mobile betting powerhouse DraftKings is planning a tax on consumers in states with the highest sports betting tax rates, as the company looks to boost profit. The company announced Thursday that starting next year it will implement a gaming surcharge on winning bets in states with multiple betting operators and where the tax rate is above 20%. That includes Illinois, New York, Pennsylvania and Vermont. "We decided that the best course of action is to do what really every other industry [does] — whether it's ...

| 1 Q2 2024 EARNINGS PRESENTATION August 2, 2024 Legal Disclaimer Forward-Looking Statements This presentation contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including statements about DraftKings Inc. ("DraftKings", the "Company", "we", "us" and "our") and its industry that involve substantial risks and uncertainties. All statements, other than statements of historical fact, c ...

DraftKings NASDAQ: DKNG is in the consumer discretionary sector and is the 17th largest U.S. company in the Hotel, Restaurants, and Leisure industry, with a market capitalization of $17 billion. It is underperforming its sector so far in 2024, with a total return of 0.7%. The Consumer Discretionary Select Sector SPDR Fund NYSEARCA: XLY has returned 2.7%. The company reported Q2 2024 financial results on Aug 1, 2024. I'll start by going over the operations of the business and then review the earnings report. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to ___________. Commission file number 001-41379 DRAFTKINGS INC. (Exact name of registrant as specified in its charter) Nevada 87-2764212 (State or other jurisd ...

DraftKings (DKNG) came out with quarterly earnings of $0.12 per share, beating the Zacks Consensus Estimate of a loss of $0.03 per share. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 500%. A quarter ago, it was expected that this company would post a loss of $0.28 per share when it actually produced a loss of $0.30, delivering a surprise of -7.14%. Over the last four quarters, the company has ...

DraftKings Reports Second Quarter Revenue Growth of 26% to $1,104 Million; Announces $1.0 Billion Inaugural Share Repurchase Authorization Raises 2024 Revenue Guidance Midpoint to $5.15 Billion; Revises 2024 Adjusted EBITDA Guidance Midpoint from $500 Million to $380 Million; Continues to Expect 2025 Adjusted EBITDA in the Range of $900 Million to $1.0 Billion Boston, MA – August 1, 2024 — DraftKings Inc. (Nasdaq: DKNG) ("DraftKings" or the "Company") today announced results for the second quarter of 2024 a ...