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DraftKings quarterly results miss estimates

DraftKings stock fell more than 5% in premarket trading after the digital sports entertainment and g

DraftKings quarterly results miss estimates

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{"i18n":{"language":"zh_CN"},"data":{"magic":2,"id":846780935,"tweetId":"846780935","gmtCreate":1636114005494,"gmtModify":1636114005662,"author":{"id":4087198084199290,"idStr":"4087198084199290","authorId":4087198084199290,"authorIdStr":"4087198084199290","name":"Jay77","avatar":"https://static.tigerbbs.com/ce42d632f4a0354386590c723816f30f","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":5,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body>Pls like</body></html>","htmlText":"<html><head></head><body>Pls like</body></html>","text":"Pls like","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/846780935","repostId":1198292123,"repostType":4,"repost":{"id":"1198292123","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1636111336,"share":"https://www.laohu8.com/m/news/1198292123?lang=&edition=full","pubTime":"2021-11-05 19:22","market":"us","language":"en","title":"DraftKings quarterly results miss estimates","url":"https://stock-news.laohu8.com/highlight/detail?id=1198292123","media":"Tiger Newspress","summary":"DraftKings stock fell more than 5% in premarket trading after the digital sports entertainment and g","content":"DraftKings stock fell more than 5% in premarket trading&nbsp;after the digital sports entertainment and gaming company reported third-quarter loss that surprisingly widened and revenue that missed forecasts, as cost of revenue and marketing spending jumped. \nThe net loss widened to $545.0 million, or $1.35 a share, from $395.7 million, or $1.11 a share, in the year-ago period. The FactSet per-share loss consensus of 98 cents, and a GAAP consensus of $1.09. Revenue grew 60.2% to $212.82 million, below the FactSet consensus of $236.9 million, as cost of revenue jumped 76.8% to $170.75 million and sales and marketing spending climbed 49.3% to $303.66 million.\n \"On a same state basis and taking into consideration lower than expected hold primarily due to NFL game outcomes, third quarter revenue would have been $40 million higher,\" the company stated. Monthly unique payers (MUP) rose 31% and average revenue per MUP increased 38% to $47. \nThe company revised its 2021 revenue outlook to $1.24 billion to $1.28 billion from $1.21 billion to $1.29 billion, but the outlook was below the FactSet consensus of $1.29 billion. \n<img src=\"https://static.tigerbbs.com/e171d74e5b4ebadc99737c8422ab2ab4\" tg-width=\"849\" tg-height=\"619\" referrerpolicy=\"no-referrer\">\nDraftKings Inc.&nbsp;today reported third quarter 2021 financial results.\nThird Quarter 2021 Highlights\nFor the three months ended September 30, 2021, DraftKings reported revenue of $213 million, an increase of 60% compared to $133 million during the same period in 2020. Third quarter 2021 revenue was in-line with the guidance the Company previously provided during its second quarter earnings conference call on August 6, 2021.\n“DraftKings had a strong third quarter that highlights our team’s unique ability to drive engagement with our core customers while simultaneously launching new states and verticals and completing the complex migration to our own in-house technology ahead of schedule,” said Jason Robins, DraftKings’ co-founder, Chief Executive Officer and Chairman of the Board. “Since migrating, They have rapidly added innovative features and functionality to our top-ranked mobile sports betting app. They are also excited that our new growth initiatives, including DraftKings Marketplace and our content and media business, demonstrated promising early results in the quarter.”\nJason Park, DraftKings’ Chief Financial Officer, added, “Fundamental user acquisition, retention and engagement trends in the third quarter were outstanding across all of our online gaming products. They delivered $213 million in third quarter revenue which represents a 60% year-over-year increase. On a same state basis and taking into consideration lower than expected hold primarily due to NFL game outcomes, third quarter revenue would have been $40 million higher. Our key performance indicators also continued to grow, as Monthly Unique Payers increased by 31% and Average Revenue Per Monthly Unique Payer grew by 38%. They are increasing the midpoint of our 2021 revenue guidance and introducing 2022 revenue guidance which points to another year of strong growth in existing states for DraftKings.”\nContinued Healthy Growth in Player Retention, Acquisition and Engagement\n<ul>\n <li>Monthly Unique Payers (“MUPs”) for our B2C segment increased 31% compared to the third quarter of 2020. On average, 1.3 million monthly unique paying customers engaged with DraftKings during each month of the third quarter. The increase reflects strong unique payer retention and acquisition across our Sportsbook and iGaming product offerings as well as the expansion of our Sportsbook and iGaming product offerings into new states.</li>\n <li>Average Revenue per MUP (“ARPMUP”) was $47 in the third quarter of 2021 representing a 38% increase versus the same period in 2020. Our ARPMUP benefitted from continued mix shift into our sportsbook and iGaming product offerings, cross selling our customers into more products and stronger engagement within product verticals.</li>\n <li>DraftKings delivered strong growth in MUPs and ARPMUP in the third quarter of 2021 without contribution from major sports such as the NBA and NHL which resumed their respective seasons in the third quarter of 2020 following suspension in March 2020 due to COVID-19.</li>\n</ul>\nIncreasing Midpoint of 2021 Revenue Guidance and Introducing 2022 Revenue Guidance\n<ul>\n <li>DraftKings is increasing the midpoint of its fiscal year 2021 revenue guidance to $1.26 billion and narrowing the guidance range of $1.21 billion to $1.29 billion to a range of $1.24 billion to $1.28 billion, which equates to year-over-year growth of 93% to 99%.</li>\n <li>This guidance reflects strong results year-to-date, completed new state launches and our demonstrated ability to engage users and acquire customers efficiently and does not include the impact of any new state launches after November 5th, 2021.</li>\n <li>DraftKings’ 2021 revenue guidance also includes a $25 million negative revenue impact primarily due to customer-friendly NFL event outcomes in October.</li>\n <li>DraftKings is also introducing 2022 revenue guidance of $1.7 billion to $1.9 billion, which equates to 43% year-over-year growth based on the midpoints of the Company’s 2021 revenue guidance range and the Company’s 2022 revenue guidance range. This range is based on the same assumptions used for the Company’s 2021 guidance, including no impact from any new state launches after November 5th, 2021.</li>\n <li>Detailed financial data and other information is available in DraftKings’ Quarterly Report on Form 10-Q, which will be filed today with the Securities and Exchange Commission (the “SEC”), as well as in a slide presentation that can be accessed through the “Investors” section of the Company’s website atinvestors.draftkings.com.</li>\n</ul>\nDraftKings’ Expanded Mobile Sports Betting and iGaming Footprint\n<ul>\n <li>Following successful launches in Wyoming, Arizona and Connecticut, DraftKings is now live with mobile sports betting in 15 states that collectively represent 29% of the U.S. population.</li>\n <li>Following a successful launch in Connecticut, DraftKings is now live with iGaming in 5 states, representing approximately 11% of the U.S. population.</li>\n <li>In 2021, 25 state legislatures have introduced legislation to legalize mobile sports betting, 5 state legislatures have introduced legislation to expand their existing sports betting frameworks and 2 state legislatures have introduced legislation to legalize sports betting limited to retail locations. In addition, 4 states have introduced iGaming legislation and 3 states have introduced online poker legislation.</li>\n <li>Three of the states where DraftKings has the potential opportunity to participate via a market access agreement or direct license - New York, Maryland and Louisiana - have authorized mobile sports betting this year. These three states represent 9% of the U.S. population and bring the percentage of the population with legalized mobile sports betting to 39%.</li>\n</ul>\nProduct Developments, Content Initiatives and Commercial Agreements\n<ul>\n <li>Completed the full online and retail migration to in-house technology ahead of schedule in the third quarter. With more technology resources now available to focus on product innovation, DraftKings is already experiencing benefits from the transition to our own technology.</li>\n <li>Launched DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings Marketplace offers millions of customers the ability to seamlessly buy and sell digital collectibles across sports, entertainment and culture using their existing DraftKings account. Each of the drops on DraftKings Marketplace were oversubscribed, and the secondary transactions market has seen strong engagement by users seeking to collect their favorite NFTs. Since the initial drops enabled by our exclusive sports distribution relationship with Autograph featuring Tom Brady, Wayne Gretzky, Tony Hawk, Derek Jeter, Naomi Osaka, and Tiger Woods, Marketplace added drops by Usain Bolt and Rob Gronkowski. Recently, Autograph teamed up with Lionsgate and Twisted Pictures to release on DraftKings Marketplace exclusive digital collectibles from Saw, one of the most successful horror franchises in history.</li>\n <li>DraftKings Marketplace announced a blockchain collaboration with Polygon, an Ethereum-based scaling platform on-boarding millions of individuals to Web 3.0. This deal provides DraftKings Marketplace with a scalable, eco-friendly blockchain solution that enables added throughput and expanded capabilities. Additionally, DraftKings now has the option to potentially contribute to Polygon’s governance and help secure the network as a validator node with its own stake pool.</li>\n <li>Launched micro-betting across the DraftKings Sportsbook. Integrating micro-betting technology allows our customers to engage even further with the sports they love by betting play-by-play throughout a sporting event. DraftKings offers micro-betting products for the NFL, MLB, NBA, and college football.</li>\n <li>Launched DraftKings Rocket which is currently available in New Jersey with additional states to follow pending regulatory approvals. DraftKings Rocket is the latest addition to our internally developed games following Spanish 21 and DKCraps earlier this year.</li>\n <li>As the exclusive odds supplier, DraftKings will provide sports betting information and daily fantasy content across Turner Sports telecasts and Bleacher Report digital channels, including the B/R app, related to Turner’s NHL content.</li>\n <li>Announced an expanded multiyear relationship with The National Basketball Association (“NBA”) that makes DraftKings a co-official sports betting partner of the league. This agreement grants DraftKings expansive NBA rights and assets to integrate within its sports betting, daily fantasy sports, iGaming and free-to-play products and promotional offerings.</li>\n</ul>\nCommitment to Environmental, Social and Governance Continues\n<ul>\n <li>DraftKings continued to invest in its Corporate Social Responsibility initiative, DraftKings S.E.R.V.E.S., which is a catalyst to facilitate meaningful relationships among DraftKings employees and customers and the communities and causes they feel passionate about to help create a better world for everyone.</li>\n <li>Focusing on responsibility, DraftKings integrated the American Gaming Association’s “Have A Game Plan.®Bet Responsibly™” public service campaign across the Company’s retail sportsbooks and into team partners’ stadiums, along with DraftKings’ own responsible gaming tag: “It’s More Fun When It’s for Fun.”</li>\n <li>DraftKings quickly mobilized customers to raise funds for Feeding Louisiana in the aftermath of Hurricane Ida.</li>\n <li>DraftKings became a corporate sponsor and equity champion for Boston While Black, the first membership network for Boston-based Black professionals, entrepreneurs and students. Through this collaboration, DraftKings will support Boston While Black’s work to build more opportunities across Boston for Black professionals to connect with the Black community and for employers to tap into a vast network of Black talent.</li>\n <li>In honor of Hispanic Heritage Month, DraftKings engaged in internal and external efforts to celebrate and support the Hispanic and Latinx communities throughout the month. DraftKings supported both national and local Hispanic organizations, including Amplify Latinx, Association of Latino Professionals for America (ALPFA), and Support Latino Business. Throughout the month, DraftKings also hosted a free-to-play Hispanic Heritage Month Popularity Pool, which highlighted iconic Hispanic and Latinx athletes and entrepreneurs.</li>\n <li>The start of Breast Cancer Awareness Month in October marked the return of DraftKings’ charitable initiative, Pink ‘Em, which raises money for breast cancer research in collaboration with The Larry Fitzgerald Foundation. Beginning with NFL Week 5 and running each Sunday through NFL Week 8, customers entered free Pink ‘Em pools where DraftKings donated $1 for every customer entry in the free Pink ‘Em pools. Since launching the Pink ‘Em charity program in 2019, DraftKings customers have helped raise over $230,000 in the fight against breast cancer.</li>\n</ul>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DraftKings quarterly results miss estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDraftKings quarterly results miss estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\nTiger Newspress \n2021-11-05 19:22\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\nDraftKings stock fell more than 5% in premarket trading&nbsp;after the digital sports entertainment and gaming company reported third-quarter loss that surprisingly widened and revenue that missed forecasts, as cost of revenue and marketing spending jumped. \nThe net loss widened to $545.0 million, or $1.35 a share, from $395.7 million, or $1.11 a share, in the year-ago period. The FactSet per-share loss consensus of 98 cents, and a GAAP consensus of $1.09. Revenue grew 60.2% to $212.82 million, below the FactSet consensus of $236.9 million, as cost of revenue jumped 76.8% to $170.75 million and sales and marketing spending climbed 49.3% to $303.66 million.\n \"On a same state basis and taking into consideration lower than expected hold primarily due to NFL game outcomes, third quarter revenue would have been $40 million higher,\" the company stated. Monthly unique payers (MUP) rose 31% and average revenue per MUP increased 38% to $47. \nThe company revised its 2021 revenue outlook to $1.24 billion to $1.28 billion from $1.21 billion to $1.29 billion, but the outlook was below the FactSet consensus of $1.29 billion. \n<img src=\"https://static.tigerbbs.com/e171d74e5b4ebadc99737c8422ab2ab4\" tg-width=\"849\" tg-height=\"619\" referrerpolicy=\"no-referrer\">\nDraftKings Inc.&nbsp;today reported third quarter 2021 financial results.\nThird Quarter 2021 Highlights\nFor the three months ended September 30, 2021, DraftKings reported revenue of $213 million, an increase of 60% compared to $133 million during the same period in 2020. Third quarter 2021 revenue was in-line with the guidance the Company previously provided during its second quarter earnings conference call on August 6, 2021.\n“DraftKings had a strong third quarter that highlights our team’s unique ability to drive engagement with our core customers while simultaneously launching new states and verticals and completing the complex migration to our own in-house technology ahead of schedule,” said Jason Robins, DraftKings’ co-founder, Chief Executive Officer and Chairman of the Board. “Since migrating, They have rapidly added innovative features and functionality to our top-ranked mobile sports betting app. They are also excited that our new growth initiatives, including DraftKings Marketplace and our content and media business, demonstrated promising early results in the quarter.”\nJason Park, DraftKings’ Chief Financial Officer, added, “Fundamental user acquisition, retention and engagement trends in the third quarter were outstanding across all of our online gaming products. They delivered $213 million in third quarter revenue which represents a 60% year-over-year increase. On a same state basis and taking into consideration lower than expected hold primarily due to NFL game outcomes, third quarter revenue would have been $40 million higher. Our key performance indicators also continued to grow, as Monthly Unique Payers increased by 31% and Average Revenue Per Monthly Unique Payer grew by 38%. They are increasing the midpoint of our 2021 revenue guidance and introducing 2022 revenue guidance which points to another year of strong growth in existing states for DraftKings.”\nContinued Healthy Growth in Player Retention, Acquisition and Engagement\n<ul>\n <li>Monthly Unique Payers (“MUPs”) for our B2C segment increased 31% compared to the third quarter of 2020. On average, 1.3 million monthly unique paying customers engaged with DraftKings during each month of the third quarter. The increase reflects strong unique payer retention and acquisition across our Sportsbook and iGaming product offerings as well as the expansion of our Sportsbook and iGaming product offerings into new states.</li>\n <li>Average Revenue per MUP (“ARPMUP”) was $47 in the third quarter of 2021 representing a 38% increase versus the same period in 2020. Our ARPMUP benefitted from continued mix shift into our sportsbook and iGaming product offerings, cross selling our customers into more products and stronger engagement within product verticals.</li>\n <li>DraftKings delivered strong growth in MUPs and ARPMUP in the third quarter of 2021 without contribution from major sports such as the NBA and NHL which resumed their respective seasons in the third quarter of 2020 following suspension in March 2020 due to COVID-19.</li>\n</ul>\nIncreasing Midpoint of 2021 Revenue Guidance and Introducing 2022 Revenue Guidance\n<ul>\n <li>DraftKings is increasing the midpoint of its fiscal year 2021 revenue guidance to $1.26 billion and narrowing the guidance range of $1.21 billion to $1.29 billion to a range of $1.24 billion to $1.28 billion, which equates to year-over-year growth of 93% to 99%.</li>\n <li>This guidance reflects strong results year-to-date, completed new state launches and our demonstrated ability to engage users and acquire customers efficiently and does not include the impact of any new state launches after November 5th, 2021.</li>\n <li>DraftKings’ 2021 revenue guidance also includes a $25 million negative revenue impact primarily due to customer-friendly NFL event outcomes in October.</li>\n <li>DraftKings is also introducing 2022 revenue guidance of $1.7 billion to $1.9 billion, which equates to 43% year-over-year growth based on the midpoints of the Company’s 2021 revenue guidance range and the Company’s 2022 revenue guidance range. This range is based on the same assumptions used for the Company’s 2021 guidance, including no impact from any new state launches after November 5th, 2021.</li>\n <li>Detailed financial data and other information is available in DraftKings’ Quarterly Report on Form 10-Q, which will be filed today with the Securities and Exchange Commission (the “SEC”), as well as in a slide presentation that can be accessed through the “Investors” section of the Company’s website atinvestors.draftkings.com.</li>\n</ul>\nDraftKings’ Expanded Mobile Sports Betting and iGaming Footprint\n<ul>\n <li>Following successful launches in Wyoming, Arizona and Connecticut, DraftKings is now live with mobile sports betting in 15 states that collectively represent 29% of the U.S. population.</li>\n <li>Following a successful launch in Connecticut, DraftKings is now live with iGaming in 5 states, representing approximately 11% of the U.S. population.</li>\n <li>In 2021, 25 state legislatures have introduced legislation to legalize mobile sports betting, 5 state legislatures have introduced legislation to expand their existing sports betting frameworks and 2 state legislatures have introduced legislation to legalize sports betting limited to retail locations. In addition, 4 states have introduced iGaming legislation and 3 states have introduced online poker legislation.</li>\n <li>Three of the states where DraftKings has the potential opportunity to participate via a market access agreement or direct license - New York, Maryland and Louisiana - have authorized mobile sports betting this year. These three states represent 9% of the U.S. population and bring the percentage of the population with legalized mobile sports betting to 39%.</li>\n</ul>\nProduct Developments, Content Initiatives and Commercial Agreements\n<ul>\n <li>Completed the full online and retail migration to in-house technology ahead of schedule in the third quarter. With more technology resources now available to focus on product innovation, DraftKings is already experiencing benefits from the transition to our own technology.</li>\n <li>Launched DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings Marketplace offers millions of customers the ability to seamlessly buy and sell digital collectibles across sports, entertainment and culture using their existing DraftKings account. Each of the drops on DraftKings Marketplace were oversubscribed, and the secondary transactions market has seen strong engagement by users seeking to collect their favorite NFTs. Since the initial drops enabled by our exclusive sports distribution relationship with Autograph featuring Tom Brady, Wayne Gretzky, Tony Hawk, Derek Jeter, Naomi Osaka, and Tiger Woods, Marketplace added drops by Usain Bolt and Rob Gronkowski. Recently, Autograph teamed up with Lionsgate and Twisted Pictures to release on DraftKings Marketplace exclusive digital collectibles from Saw, one of the most successful horror franchises in history.</li>\n <li>DraftKings Marketplace announced a blockchain collaboration with Polygon, an Ethereum-based scaling platform on-boarding millions of individuals to Web 3.0. This deal provides DraftKings Marketplace with a scalable, eco-friendly blockchain solution that enables added throughput and expanded capabilities. Additionally, DraftKings now has the option to potentially contribute to Polygon’s governance and help secure the network as a validator node with its own stake pool.</li>\n <li>Launched micro-betting across the DraftKings Sportsbook. Integrating micro-betting technology allows our customers to engage even further with the sports they love by betting play-by-play throughout a sporting event. DraftKings offers micro-betting products for the NFL, MLB, NBA, and college football.</li>\n <li>Launched DraftKings Rocket which is currently available in New Jersey with additional states to follow pending regulatory approvals. DraftKings Rocket is the latest addition to our internally developed games following Spanish 21 and DKCraps earlier this year.</li>\n <li>As the exclusive odds supplier, DraftKings will provide sports betting information and daily fantasy content across Turner Sports telecasts and Bleacher Report digital channels, including the B/R app, related to Turner’s NHL content.</li>\n <li>Announced an expanded multiyear relationship with The National Basketball Association (“NBA”) that makes DraftKings a co-official sports betting partner of the league. This agreement grants DraftKings expansive NBA rights and assets to integrate within its sports betting, daily fantasy sports, iGaming and free-to-play products and promotional offerings.</li>\n</ul>\nCommitment to Environmental, Social and Governance Continues\n<ul>\n <li>DraftKings continued to invest in its Corporate Social Responsibility initiative, DraftKings S.E.R.V.E.S., which is a catalyst to facilitate meaningful relationships among DraftKings employees and customers and the communities and causes they feel passionate about to help create a better world for everyone.</li>\n <li>Focusing on responsibility, DraftKings integrated the American Gaming Association’s “Have A Game Plan.®Bet Responsibly™” public service campaign across the Company’s retail sportsbooks and into team partners’ stadiums, along with DraftKings’ own responsible gaming tag: “It’s More Fun When It’s for Fun.”</li>\n <li>DraftKings quickly mobilized customers to raise funds for Feeding Louisiana in the aftermath of Hurricane Ida.</li>\n <li>DraftKings became a corporate sponsor and equity champion for Boston While Black, the first membership network for Boston-based Black professionals, entrepreneurs and students. Through this collaboration, DraftKings will support Boston While Black’s work to build more opportunities across Boston for Black professionals to connect with the Black community and for employers to tap into a vast network of Black talent.</li>\n <li>In honor of Hispanic Heritage Month, DraftKings engaged in internal and external efforts to celebrate and support the Hispanic and Latinx communities throughout the month. DraftKings supported both national and local Hispanic organizations, including Amplify Latinx, Association of Latino Professionals for America (ALPFA), and Support Latino Business. Throughout the month, DraftKings also hosted a free-to-play Hispanic Heritage Month Popularity Pool, which highlighted iconic Hispanic and Latinx athletes and entrepreneurs.</li>\n <li>The start of Breast Cancer Awareness Month in October marked the return of DraftKings’ charitable initiative, Pink ‘Em, which raises money for breast cancer research in collaboration with The Larry Fitzgerald Foundation. Beginning with NFL Week 5 and running each Sunday through NFL Week 8, customers entered free Pink ‘Em pools where DraftKings donated $1 for every customer entry in the free Pink ‘Em pools. Since launching the Pink ‘Em charity program in 2019, DraftKings customers have helped raise over $230,000 in the fight against breast cancer.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DKNG":"DraftKings Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198292123","content_text":"DraftKings stock fell more than 5% in premarket trading after the digital sports entertainment and gaming company reported third-quarter loss that surprisingly widened and revenue that missed forecasts, as cost of revenue and marketing spending jumped. \nThe net loss widened to $545.0 million, or $1.35 a share, from $395.7 million, or $1.11 a share, in the year-ago period. The FactSet per-share loss consensus of 98 cents, and a GAAP consensus of $1.09. Revenue grew 60.2% to $212.82 million, below the FactSet consensus of $236.9 million, as cost of revenue jumped 76.8% to $170.75 million and sales and marketing spending climbed 49.3% to $303.66 million.\n \"On a same state basis and taking into consideration lower than expected hold primarily due to NFL game outcomes, third quarter revenue would have been $40 million higher,\" the company stated. Monthly unique payers (MUP) rose 31% and average revenue per MUP increased 38% to $47. \nThe company revised its 2021 revenue outlook to $1.24 billion to $1.28 billion from $1.21 billion to $1.29 billion, but the outlook was below the FactSet consensus of $1.29 billion. \n\nDraftKings Inc. today reported third quarter 2021 financial results.\nThird Quarter 2021 Highlights\nFor the three months ended September 30, 2021, DraftKings reported revenue of $213 million, an increase of 60% compared to $133 million during the same period in 2020. Third quarter 2021 revenue was in-line with the guidance the Company previously provided during its second quarter earnings conference call on August 6, 2021.\n“DraftKings had a strong third quarter that highlights our team’s unique ability to drive engagement with our core customers while simultaneously launching new states and verticals and completing the complex migration to our own in-house technology ahead of schedule,” said Jason Robins, DraftKings’ co-founder, Chief Executive Officer and Chairman of the Board. “Since migrating, They have rapidly added innovative features and functionality to our top-ranked mobile sports betting app. They are also excited that our new growth initiatives, including DraftKings Marketplace and our content and media business, demonstrated promising early results in the quarter.”\nJason Park, DraftKings’ Chief Financial Officer, added, “Fundamental user acquisition, retention and engagement trends in the third quarter were outstanding across all of our online gaming products. They delivered $213 million in third quarter revenue which represents a 60% year-over-year increase. On a same state basis and taking into consideration lower than expected hold primarily due to NFL game outcomes, third quarter revenue would have been $40 million higher. Our key performance indicators also continued to grow, as Monthly Unique Payers increased by 31% and Average Revenue Per Monthly Unique Payer grew by 38%. They are increasing the midpoint of our 2021 revenue guidance and introducing 2022 revenue guidance which points to another year of strong growth in existing states for DraftKings.”\nContinued Healthy Growth in Player Retention, Acquisition and Engagement\n\nMonthly Unique Payers (“MUPs”) for our B2C segment increased 31% compared to the third quarter of 2020. On average, 1.3 million monthly unique paying customers engaged with DraftKings during each month of the third quarter. The increase reflects strong unique payer retention and acquisition across our Sportsbook and iGaming product offerings as well as the expansion of our Sportsbook and iGaming product offerings into new states.\nAverage Revenue per MUP (“ARPMUP”) was $47 in the third quarter of 2021 representing a 38% increase versus the same period in 2020. Our ARPMUP benefitted from continued mix shift into our sportsbook and iGaming product offerings, cross selling our customers into more products and stronger engagement within product verticals.\nDraftKings delivered strong growth in MUPs and ARPMUP in the third quarter of 2021 without contribution from major sports such as the NBA and NHL which resumed their respective seasons in the third quarter of 2020 following suspension in March 2020 due to COVID-19.\n\nIncreasing Midpoint of 2021 Revenue Guidance and Introducing 2022 Revenue Guidance\n\nDraftKings is increasing the midpoint of its fiscal year 2021 revenue guidance to $1.26 billion and narrowing the guidance range of $1.21 billion to $1.29 billion to a range of $1.24 billion to $1.28 billion, which equates to year-over-year growth of 93% to 99%.\nThis guidance reflects strong results year-to-date, completed new state launches and our demonstrated ability to engage users and acquire customers efficiently and does not include the impact of any new state launches after November 5th, 2021.\nDraftKings’ 2021 revenue guidance also includes a $25 million negative revenue impact primarily due to customer-friendly NFL event outcomes in October.\nDraftKings is also introducing 2022 revenue guidance of $1.7 billion to $1.9 billion, which equates to 43% year-over-year growth based on the midpoints of the Company’s 2021 revenue guidance range and the Company’s 2022 revenue guidance range. This range is based on the same assumptions used for the Company’s 2021 guidance, including no impact from any new state launches after November 5th, 2021.\nDetailed financial data and other information is available in DraftKings’ Quarterly Report on Form 10-Q, which will be filed today with the Securities and Exchange Commission (the “SEC”), as well as in a slide presentation that can be accessed through the “Investors” section of the Company’s website atinvestors.draftkings.com.\n\nDraftKings’ Expanded Mobile Sports Betting and iGaming Footprint\n\nFollowing successful launches in Wyoming, Arizona and Connecticut, DraftKings is now live with mobile sports betting in 15 states that collectively represent 29% of the U.S. population.\nFollowing a successful launch in Connecticut, DraftKings is now live with iGaming in 5 states, representing approximately 11% of the U.S. population.\nIn 2021, 25 state legislatures have introduced legislation to legalize mobile sports betting, 5 state legislatures have introduced legislation to expand their existing sports betting frameworks and 2 state legislatures have introduced legislation to legalize sports betting limited to retail locations. In addition, 4 states have introduced iGaming legislation and 3 states have introduced online poker legislation.\nThree of the states where DraftKings has the potential opportunity to participate via a market access agreement or direct license - New York, Maryland and Louisiana - have authorized mobile sports betting this year. These three states represent 9% of the U.S. population and bring the percentage of the population with legalized mobile sports betting to 39%.\n\nProduct Developments, Content Initiatives and Commercial Agreements\n\nCompleted the full online and retail migration to in-house technology ahead of schedule in the third quarter. With more technology resources now available to focus on product innovation, DraftKings is already experiencing benefits from the transition to our own technology.\nLaunched DraftKings Marketplace, a digital collectibles ecosystem designed for mainstream accessibility that offers curated NFT drops and supports secondary-market transactions. DraftKings Marketplace offers millions of customers the ability to seamlessly buy and sell digital collectibles across sports, entertainment and culture using their existing DraftKings account. Each of the drops on DraftKings Marketplace were oversubscribed, and the secondary transactions market has seen strong engagement by users seeking to collect their favorite NFTs. Since the initial drops enabled by our exclusive sports distribution relationship with Autograph featuring Tom Brady, Wayne Gretzky, Tony Hawk, Derek Jeter, Naomi Osaka, and Tiger Woods, Marketplace added drops by Usain Bolt and Rob Gronkowski. Recently, Autograph teamed up with Lionsgate and Twisted Pictures to release on DraftKings Marketplace exclusive digital collectibles from Saw, one of the most successful horror franchises in history.\nDraftKings Marketplace announced a blockchain collaboration with Polygon, an Ethereum-based scaling platform on-boarding millions of individuals to Web 3.0. This deal provides DraftKings Marketplace with a scalable, eco-friendly blockchain solution that enables added throughput and expanded capabilities. Additionally, DraftKings now has the option to potentially contribute to Polygon’s governance and help secure the network as a validator node with its own stake pool.\nLaunched micro-betting across the DraftKings Sportsbook. Integrating micro-betting technology allows our customers to engage even further with the sports they love by betting play-by-play throughout a sporting event. DraftKings offers micro-betting products for the NFL, MLB, NBA, and college football.\nLaunched DraftKings Rocket which is currently available in New Jersey with additional states to follow pending regulatory approvals. DraftKings Rocket is the latest addition to our internally developed games following Spanish 21 and DKCraps earlier this year.\nAs the exclusive odds supplier, DraftKings will provide sports betting information and daily fantasy content across Turner Sports telecasts and Bleacher Report digital channels, including the B/R app, related to Turner’s NHL content.\nAnnounced an expanded multiyear relationship with The National Basketball Association (“NBA”) that makes DraftKings a co-official sports betting partner of the league. This agreement grants DraftKings expansive NBA rights and assets to integrate within its sports betting, daily fantasy sports, iGaming and free-to-play products and promotional offerings.\n\nCommitment to Environmental, Social and Governance Continues\n\nDraftKings continued to invest in its Corporate Social Responsibility initiative, DraftKings S.E.R.V.E.S., which is a catalyst to facilitate meaningful relationships among DraftKings employees and customers and the communities and causes they feel passionate about to help create a better world for everyone.\nFocusing on responsibility, DraftKings integrated the American Gaming Association’s “Have A Game Plan.®Bet Responsibly™” public service campaign across the Company’s retail sportsbooks and into team partners’ stadiums, along with DraftKings’ own responsible gaming tag: “It’s More Fun When It’s for Fun.”\nDraftKings quickly mobilized customers to raise funds for Feeding Louisiana in the aftermath of Hurricane Ida.\nDraftKings became a corporate sponsor and equity champion for Boston While Black, the first membership network for Boston-based Black professionals, entrepreneurs and students. Through this collaboration, DraftKings will support Boston While Black’s work to build more opportunities across Boston for Black professionals to connect with the Black community and for employers to tap into a vast network of Black talent.\nIn honor of Hispanic Heritage Month, DraftKings engaged in internal and external efforts to celebrate and support the Hispanic and Latinx communities throughout the month. DraftKings supported both national and local Hispanic organizations, including Amplify Latinx, Association of Latino Professionals for America (ALPFA), and Support Latino Business. Throughout the month, DraftKings also hosted a free-to-play Hispanic Heritage Month Popularity Pool, which highlighted iconic Hispanic and Latinx athletes and entrepreneurs.\nThe start of Breast Cancer Awareness Month in October marked the return of DraftKings’ charitable initiative, Pink ‘Em, which raises money for breast cancer research in collaboration with The Larry Fitzgerald Foundation. Beginning with NFL Week 5 and running each Sunday through NFL Week 8, customers entered free Pink ‘Em pools where DraftKings donated $1 for every customer entry in the free Pink ‘Em pools. Since launching the Pink ‘Em charity program in 2019, DraftKings customers have helped raise over $230,000 in the fight against breast cancer.","news_type":1,"symbols_score_info":{"DKNG":0.9}},"isVote":1,"tweetType":1,"viewCount":1620,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"hasMoreComment":false,"orderType":2}