DraftKings Q2 Highlights: Mixed Earnings, Predictions 'Growing Faster Than We Anticipated'

Sports betting and online gaming company DraftKings Inc (NASDAQ: DKNG ) reported second-quarter financial results Thursday after market close. Here are the key highlights. • DraftKings stock is facing resistance. Why is DKNG stock trading lower? DraftKings Q2 Earnings DraftKings reported second-quarter revenue of $1.44 billion, down 5% year-over-year. The revenue total missed a Street consensus estimate of $1.52 billion, according to data Pro. The company reported earnings of nine cents per share in the quarter, beating a Street estimate of two cents per share. Sports consumer volume was $13.1 billion in the quarter, up 15% year-over-year. Growth was attributed to strong customer acquisition and engagement. Revenue decline was attributed to customer-friendly outcomes and increased promotional reinvestment. Monthly unique payers (MUPs) were 3.6 million in the quarter, up 9% year-over-y...