DraftKings Whiffs on Q2 Earnings, but a Sports Restart Should Help in Q3
A lack of sporting events had DraftKings (NASDAQ: DKNG) reporting a wider-than-expected loss for the second quarter this morning, but with pro baseball, football, basketball, and some college sports getting back on the pitch again, the sports-wagering outfit is looking to hit some solid doubles, if not a home run, in the quarters ahead.
DraftKings said revenue rose almost 24% to $70.9 million after it "creatively" engaged with fantasy sports fans and developed new betting products for NASCAR, golf, mixed martial arts, and European soccer. The result was better than the $66.4 million gain Wall Street anticipated.
Image source: Getty Images.
Source Fool.com
