Draftkings Inc (NASDAQ:DKNG) shares climbed almost 6% after hours as investors overlooked its near-term issues to focus on the bigger picture.
The online sports betting giant reported a loss of 28 cents per share on $1.39 billion in revenue, falling short of analysts’ forecasts of a 17-cent loss on $1.4 billion in sales.
Even so, its followers were encouraged as DraftKings raised its 2025 revenue outlook, setting a new midpoint range of $6.3 billion to $6.6 billion, up from $6.2 billion to $6.6 billion.
User engagement was strong, with monthly unique payers jumping 36% from last year to 4.8 million.
CEO Jason Robins credited smart customer acquisition and improved betting margins, even as users enjoyed favourable sports outcomes.
DraftKings isn’t alone in this—FanDuel owner Flutter Entertainment PLC (LSE:FLTR) recently noted that the current NFL season has been unusually "customer-friendly," impacting sportsbook profits across the industry.
The stock was up $2.56 at $49.01.