Summary by Moomoo AI
DraftKings, a digital sports entertainment and gaming company, reported a significant increase in revenue for the third quarter of 2024, with a 38.7% rise to $1.095 billion compared to the same period in 2023. Despite this, the company experienced a net loss of $293.7 million, a slight increase from the $283.1 million loss in the previous year. Adjusted EBITDA showed improvement, with a loss of $58.5 million compared to a loss of $153.4 million in Q3 2023. The company attributes the revenue growth to customer engagement, new customer acquisition, expansion into new jurisdictions, and the acquisition of Jackpocket Inc. Monthly Unique Payers (MUPs) and Average Revenue per MUP (ARPMUP) were key performance indicators, with MUPs increasing significantly year-over-year, although ARPMUP saw a decrease due to lower revenue from...Show More
