<div id="readability-page-1"><div><p>Sports-betting company <span>DraftKings</span> rose in after-market trading Thursday after it reported better-than-expected Q1 sales and earnings. Here’s the rough outline of the results:</p><ul><li>Q1 revenue of $1.65 billion vs. Wall Street’s $1.63 billion expectation, according to FactSet.</li><li>Q1 earnings per share of $0.03 compared with a consensus estimate of $0.01.</li><li>Q1 adjusted EBITDA of $167.9 million vs. $152.6 million expectation. </li><li>Maintained previous full-year adjusted EBITDA guidance of $700 million to $900 million, compared with estimates of $791.4 million.</li><li>Maintained previous full-year sales guidance of between $6.5 billion and $6.9 billion (midpoint $6.70 billion) and analysts’ estimates of $6.82 billion, according to FactSet. </li></ul><p>Shares of traditional online sports gambling like DraftKings have struggled as prediction markets have emerged as a center of industry excitement. </p><p>The shift to such markets has been tricky for both DraftKings and rival FanDuel, the US leader in online sports betting — which have to manage pre-existing relationships with state gaming commissions that stand to be disrupted by prediction markets, which are regulated on the federal level by the CFTC. </p><p>DraftKings is down roughly 25% in 2026, while FanDuel parent <span>Flutter Entertainment</span>, which reported earnings yesterday, is down more than 50%.</p></div></div>

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<p>DraftKings shares rose in after-market trading following better-than-expected Q1 results, reporting revenue of $1.65 billion against a $1.63 billion expectation, and earnings per share of $0.03 versus a $0.01 estimate. The company maintained its full-year adjusted EBITDA guidance of $700 million to $900 million and sales guidance of $6.5 billion to $6.9 billion. Despite this, DraftKings has faced challenges with the rise of prediction markets, leading to a 25% decline in shares this year, while rival FanDuel's parent company has seen a 50% drop.</p>

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DraftKings rises after reporting better-than-expected Q1 numbers