Q1 24 EPS
$0.03
BEAT +110.71%
Est. $-0.28
Q1 24 Revenue
$1.17B
BEAT +4.51%
Est. $1.12B
vs S&P Since Q1 24
-88.4%
TRAILING MARKET
DKNG -47.5% vs S&P +40.9%
Market Reaction
Did DKNG Beat Earnings? Q1 2024 Results
DraftKings turned in a notably strong first quarter for 2024, posting adjusted EPS of $0.03 against a consensus estimate of negative $0.28, a beat of 110.71%, while revenue climbed 52.7% year-over-year to $1.17 billion, topping the $1.12 billion esti… Read more DraftKings turned in a notably strong first quarter for 2024, posting adjusted EPS of $0.03 against a consensus estimate of negative $0.28, a beat of 110.71%, while revenue climbed 52.7% year-over-year to $1.17 billion, topping the $1.12 billion estimate by 4.51%. The standout driver was a combination of higher structural sportsbook hold percentage and improved promotional efficiency, with sales and marketing expense falling to $340.70 million from $389.13 million even as the top line expanded sharply. Monthly Unique Payers rose 23% to 3.4 million, while Average Revenue per MUP advanced 25% to $114, reflecting deeper customer engagement rather than simple volume gains. The company also swung to positive Adjusted EBITDA of $22.39 million from a loss of $221.61 million a year prior, a trajectory that informed management's decision to raise full-year 2024 revenue guidance to $4.80 billion to $5.00 billion and lift Adjusted EBITDA guidance to $460 million to $540 million, with expected flow-through exceeding 50%.
Key Takeaways
- • Monthly Unique Payers (MUPs) increased 23% YoY to 3.4 million average monthly unique paying customers
- • Average Revenue per MUP (ARPMUP) grew 25% YoY to $114
- • Higher structural sportsbook hold percentage
- • Improved promotional reinvestment for Sportsbook and iGaming
- • Efficient acquisition of new customers
- • Expansion of Sportsbook product into new jurisdictions
DKNG YoY Financials
Q1 2024 vs Q1 2023, source: SEC Filings
DKNG Revenue by Segment
With YoY comparisons, source: SEC Filings
“DraftKings' performance in the first quarter of 2024 was outstanding, reflecting healthy revenue growth and a scaled fixed cost structure that positions us to drive rapidly improving Adjusted EBITDA.”
— Jason Robins, Q1 2024 Earnings Press Release
DKNG Earnings Trends
DKNG vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DKNG EPS Trend
Earnings per share: estimate vs actual
DKNG Revenue Trend
Quarterly revenue: estimate vs actual
DKNG Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $0.18 | $0.36 | +100.00% | $1.99B | +0.80% |
| FY Full Year | $0.79 | $0.66 | -16.28% | $6.05B | +0.26% |
| Q3 25 MISS | $-0.26 | $-0.26 | -1.84% | $1.14B | -4.81% |
| Q2 25 MISS | $0.41 | $0.38 | -6.31% | $1.51B | +6.03% |
| Q1 25 MISS | $0.12 | $0.12 | -2.44% | $1.41B | -1.23% |
| Q1 24 BEAT | $-0.28 | $0.03 | +110.71% | $1.17B | +4.51% |
| Q4 23 BEAT FY | $0.08 | $0.29 | +262.50% | $1.23B | -0.75% |
| FY Full Year | — | $-0.41 | — | $3.67B | — |
| Q4 22 | $-0.59 | — | — | — | — |