Robins also highlighted the exceptional user experience provided by Draftkings' new features and functionality, which have contributed to sustained engagement among mobile sports betting and iGaming customers. He attributed the positive impact to product and technology investments, as well as the organization's overall preparation and execution. Looking ahead to FY 2024, Draftkings expects revenues of $4.5 billion to $4.8 billion and adjusted EBITDA of $350 million to $450 million.ĭraftkings' CEO & Co-Founder, Jason Robins, expressed satisfaction with the company's Q3 results. Adjusted EBITDA for FY 2023 is projected to be between ($95) million and ($115) million, a revision from the previous range of ($190) million to ($220) million. In terms of full-year guidance, the company anticipates revenues between $3.67 billion and $3.72 billion for FY 2023, compared to the previous range of $3.46 billion to $3.54 billion. For Q4 2023, Draftkings expects adjusted EBITDA of $200 million. Management provided updated guidance for both FY 2023 and FY 2024. The company's focus on profitability has been confirmed by management, who emphasized their dedication to delivering positive financial results. Jonas also pointed out that Draftkings' iGaming platform continues to impress, attracting both new and returning players. These strong financial results demonstrate Draftkings' ability to outperform its previous performance. Additionally, revenue for the quarter came in at $789.96 million, surpassing last year's figure of $501.94 million. The company reported a loss per share of $0.61, beating Q3 2022's loss of $1.00.

In a recent report, Jonas highlighted Draftkings' impressive Q3 2023 earnings.

The analyst maintained their Strong Buy rating on the stock. Truist Securities's Barry Jonas raised their price target on Draftkings ( NASDAQ: DKNG) by 2.3% from $44 to $45 on 6.

Golden nugget online casino stock