Consensus $5.14B. Cuts FY24 adjusted EBITDA view to $240M-$280M from $340M-$420M. The company said, “DraftKings (DKNG) is revising its fiscal year 2024 revenue guidance due to the impact of customer-friendly sport outcomes early in the fourth quarter of 2024 to a range of $4.85 billion to $4.95 billion from the range of $5.05 billion to $5.25 billion, which the Company previously announced on August 1, 2024. The Company’s updated 2024 revenue guidance range equates to year-over-year growth of 32% to 35%. DraftKings is revising its fiscal year 2024 Adjusted EBITDA guidance due to the impact of customer-friendly sport outcomes early in the fourth quarter of 2024, partially offset by promotional optimization and expense efficiency. The Company now expects fiscal year 2024 Adjusted EBITDA of between $240 million and $280 million compared to its prior fiscal year 2024 Adjusted EBITDA guidance of between $340 million and $420 million, which the Company previously announced on August 1, 2024.”
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