DraftKings Q3 Sports Betting Results Disappoint Analyst: 'No Way To Describe

Core Insights - DraftKings Inc reported mixed results for Q3, with significant challenges in sports betting performance [1][3] - The company missed sports revenue expectations by 16%, while iGaming revenue increased by 25% year-over-year [4] Financial Performance - Sports betting results were described as "ugly," leading to lower EBITDA due to increased promotional spending [3] - DraftKings lowered its full-year guidance for revenue and EBITDA following the quarterly results [4] Market Outlook - Potential positives include a new deal with ESPN and the launch of a new prediction market, which could improve future performance [5] - Increased betting handle trends for NFL and NBA seasons are also seen as positive indicators [5] Stock Performance - DraftKings stock rose by 4.79% on Friday, despite hitting new 52-week lows of $26.23 earlier in the session [5] - The stock is down 22% year-to-date in 2025 [5]