DraftKings stock jumped after the company announced it was acquiring predictions platform Railbird.
The deal will help launch the upcoming DraftKings Predictions app and take the company beyond sports betting. Railbird’s license and technology could speed things up… at least investors seemed to like the news.
DraftKings’ revenue grew slightly but fell short of expectations, and the result was still a loss (and “the dishes were still unwashed”).
The company lowered its guidance for next year, but still expects clear growth. Customer numbers and player activity rose moderately.
Management is still optimistic about the future (as always) and a new “DraftKings Predictions” product is coming to market soon.
https://x.com/earnings_guy/status/1986543110092988891
