DraftKings Sinks as Forecast, Customer Growth Disappoint
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DraftKings Inc. shares fell their most in almost two years after the company added fewer new customers in the fourth quarter and projected a wider loss this year than Wall Street had expected.
The company said Friday that an average of 2 million monthly unique paying customers engaged with DraftKings during the fourth quarter. Analysts were looking for 2.1 million monthly payers, according to estimates compiled by Bloomberg. The company also forecast an adjusted loss excluding some items in the range of $825 million to $925 million this year, steeper than analysts expected.