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DraftKings posts Q3 loss of $450.5m despite revenue soaring 136%

4th November 2022 2:10 pm GMT
DraftKings

DraftKings has raised its full year revenue guidance for 2022 after reporting better than expected revenue of $501.9m during the third quarter of 2022.

Revenue in Q3 soared by 136 per cent compared to a year ago, as B2C revenue grew 161 per cent to $492.8m, offsetting a 62 per cent decline in B2B gaming software revenue to $9.1m.

The year-on-year growth was attributed to robust customer acquisition and retention, the successful launches of DraftKings’ sportsbook and [...]

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