DraftKings Jumps After Raising 2020 Revenue Forecast

(Bloomberg) — DraftKings Inc. surged as much as 8.4% in early trading after raising its 2020 revenue forecast, an indication that the rise of sports betting shows no signs of slowing.The Boston-based company expects revenue in a range of $540 million to $560 million, excluding some items, up from its previous forecast range of $500 million to $540 million, it said in a statement Friday. That would mean year-over-year revenue growth of 25% to 30%.DraftKings said its forecast assumes all announced sports calendars are maintained through the end of the year — and that’s not a sure thing, with coronavirus …read more

Source:: Yahoo Finance


Did you enjoy this article? Join our FREE Newsletter!
I agree to have my personal information transfered to MailChimp ( more information )
Join over 100,000 investors and business leaders worldwide. Get the latest actionable business and investing intelligence before the rest of the crowd.
We hate spam. Your email address will not be sold or shared with anyone else.