Consensus $3.27B. DraftKings is also improving its fiscal 2023 adjusted EBITDA guidance. The company now expects fiscal year 2023 adjusted EBITDA ($190M)-($220M). It said, “We are acquiring new customers efficiently while simultaneously retaining and monetizing our existing players through rapid product innovation, less promotions, and higher hold from better bet mix. Our unit economics are outstanding with older states generating more than enough cash to fund investment in new states. This performance, combined with fixed costs that grew at only a mid-single digit year-over-year percentage rate in the second quarter, resulted in an inflection to positive Adjusted EBITDA that we expect will occur again in the fourth quarter and for full year 2024.”
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Read More on DKNG:
- DraftKings Stock (NASDAQ:DKNG) Jumps on Beat-and-Raise Results
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