DraftKings (NASDAQ:DKNG) reported first-quarter (Q1) revenue of $1.646 billion on Thursday, up 17% year over year and ahead of Wall Street estimates of $1.644 billion, according to Benzinga Pro.
“We are off to a fantastic start to the year as our first quarter results exceeded our expectations,” DraftKings CEO Jason Robins said.
Customer acquisition and healthy customer engagement contributed to the revenue growth. The company also reported earnings of 20 cents per share in the first quarter. It beat a Street consensus estimate of 2 cents per share.
DraftKings ended Q1 with 4.2 million monthly unique payers (MUP), down 4% year-over-year. Excluding the exit of Lottery in Texas, monthly unique payers were up 2% year-over-year.
Average revenue per MUP was $131 in the first quarter, up 21% year-over-year.
The company …
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