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Davy Research

DraftKings

Another strong quarter of growth

May 3 2024, 06:55 IST/BST
Paul Ruddy
Ciaran O'Flynn
Company Report
6 page(s)

Sectors : Gaming

Companies : DraftKings

Ratings and price correct at time of issue.

DraftKings

Closing Price: 4303c
RATING 23/03/21
NEUTRAL
PREVIOUS RATING N/A

Person's Name

Paul Ruddy

Analyst

Person's Name

Ciaran O'Flynn

Analyst

DAVY VIEW

DraftKings reported Q1 revenue of $1.175bn, up 53% year-on-year (yoy) and ahead of guidance of 45% growth. It has issued new FY24 guidance of revenue of $4.9bn and aEBITDA of $500m, c.2% and 7% respectively ahead of our forecasts (at the mid-point). This is another good quarter of growth from DraftKings, with forecasts continuing to push higher.

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May 3 2024, 06:55 IST/BST