DraftKings reported first-quarter revenue of $1.41 billion, up 20% year-over-year but missing analyst expectations of $1.44 billion, according to data from Benzinga Pro. Earnings of 12 cents per share also fell short of the 22-cent estimate. Revenue growth came from strong customer engagement, new customer acquisition, a higher structural sportsbook hold percentage, and the impact of the Jackpocket acquisition. The company lowered its full-year revenue guidance from a previous range of $6.3 billion to $6.6 billion to a new range of $6.2 billion to $6.4 billion. DraftKings CEO Jason Robins said product enhancements are boosting key performance metrics, with strong customer trends despite macroeconomic challenges.
