DraftKings Full Year 2024 Earnings: EPS Misses Expectations

DraftKings (NASDAQ:DKNG) Full Year 2024 Results

Key Financial Results

• Revenue: US$4.77b (up 30% from FY 2023).
• Net loss: US$507.3m (loss narrowed by 37% from FY 2023).
• US$1.05 loss per share (improved from US$1.73 loss in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

DraftKings EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%.

In the last 12 months, the only revenue segment was Business-To-Consumer (B2C) contributing US$4.77b. Notably, cost of sales worth US$2.95b amounted to 62% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Sales & Marketing costs, amounting to US$1.26b (52% of total expenses). Over the last 12 months, the company's earnings were enhanced by non-operating gains of US$101.7m. Explore how DKNG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in the US.

Performance of the American Hospitality industry.

The company's shares are up 27% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on DraftKings' balance sheet health.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.