Q2 25 EPS
$0.38
MISS 6.31%
Est. $0.41
Q2 25 Revenue
$1.51B
BEAT +6.03%
Est. $1.43B
vs S&P Since Q2 25
-62.1%
TRAILING MARKET
DKNG -48.1% vs S&P +14.0%
Market Reaction
Did DKNG Beat Earnings? Q2 2025 Results
DraftKings delivered a record-setting second quarter in 2025, posting strong top-line results even as its bottom line fell slightly short of expectations. Revenue climbed 37% year-over-year to $1.51 billion, clearing the $1.43 billion consensus by 6.… Read more DraftKings delivered a record-setting second quarter in 2025, posting strong top-line results even as its bottom line fell slightly short of expectations. Revenue climbed 37% year-over-year to $1.51 billion, clearing the $1.43 billion consensus by 6.03%, while adjusted EPS of $0.38 came in just below the $0.41 estimate, a 6.31% miss. The primary engine behind the revenue surge was a dramatically higher sportsbook hold percentage, which reached 8.7% compared to just 6.4% in Q2 2024, propelling sportsbook revenue alone up 45.3% to $997.87 million. Net income reached $157.94 million, more than doubling from $63.82 million a year ago, and Adjusted EBITDA more than doubled to $300.64 million. With momentum building heading into the print, the company maintained its fiscal 2025 revenue guidance of $6.2 billion to $6.4 billion, noting results are expected to land closer to the high end, alongside Adjusted EBITDA guidance of $800 million to $900 million, near the midpoint.
Key Takeaways
- • Continued healthy customer engagement and efficient new customer acquisition
- • Higher structural Sportsbook hold percentage (8.7% vs 6.4% in Q2 2024)
- • Sportsbook-friendly outcomes in Q2 2025
- • Improved promotional reinvestment efficiency for Sportsbook
- • Monthly Unique Payers grew 6% year-over-year to 3.3 million
- • Average Revenue per MUP increased 29% year-over-year to $151
- • Sportsbook handle grew 6.3% to $11.5 billion
DKNG YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
DKNG Revenue by Segment
With YoY comparisons, source: SEC Filings
“We set records for revenue, net income and Adjusted EBITDA in the second quarter, driven by an acceleration in revenue growth to 37% year-over-year.”
— Jason Robins, Q2 2025 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 | — | — | — | — |