DraftKings (NASDAQ:DKNG) announced its financial results for the fiscal fourth quarter and adjusted its financial outlook upwards for the year 2024.

The company outperformed with earnings per share (EPS) of $0.29, surpassing the analyst consensus of $0.08. However, its revenue of $1.23 billion was marginally below the anticipated $1.24 billion.

Looking ahead, DraftKings has revised its revenue expectations for the fiscal year 2024 to a range of $4.65 billion to $4.9 billion, compared to the analyst consensus of $4.69 billion. This update marks an increase from the previously forecasted range of $4.50 billion to $4.80 billion.

Furthermore, DraftKings has raised its adjusted EBITDA outlook for 2024 to between $410 million and $510 million, an adjustment from the prior estimate of $350 million to $450 million.

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