A post by @FirstSquawk on X.
DRAFTKINGS CUTS ITS FY GUIDANCE, NOW SEEING FY REVENUE $6.35 BLN TO $6.55 BLN FROM $6.5 BLN TO $6.9 BLN, AND FY ADJUSTED EBITDA $175 MLN TO $275 MLN FROM $700 MLN TO $900 MLN
@FirstSquawk on X
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DraftKings cut its full-year guidance, now projecting revenue of $6.35 billion to $6.55 billion, down from a prior range of $6.5 billion to $6.9 billion. The sportsbook operator also slashed its adjusted EBITDA outlook to $175 million–$275 million from $700 million–$900 million. The sharp reduction in profitability guidance signals mounting cost pressures and weaker-than-expected operating leverage in its core business. Investors will watch whether the company attributes the shortfall to customer acquisition spending, promotional intensity, or state-level tax changes.
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