DraftKings Inc Q2 2022 Earnings Call Summary - Thomson StreetEvents

DraftKings Inc Q2 2022 Earnings Call Summary

DraftKings Inc Q2 2022 Earnings Call Summary - Thomson StreetEvents
DraftKings Inc Q2 2022 Earnings Call Summary
Published Aug 05, 2022
19 pages (11067 words) — Published Aug 05, 2022
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Abstract:

Edited Brief of DKNG.OQ earnings conference call or presentation 5-Aug-22 12:30pm GMT

  
Brief Excerpt:

...A. Highlights: Revenue $466m. 1. Exceeded the midpoint of guidance provided on 1Q earnings call by $33m. a. 2. Outperformed the midpoint of adjusted EBITDA guidance by almost 40%. 3. Core B2C revenue grew 68% vs. 2Q21. 4. Organization is executing well. Has struck a great balance of continuing to drive topline growth while also capturing meaningful efficiencies that are helping bottom line. a. 5. From topline perspective, customers are playing more frequently than expected. Seeing great success driving parlay mix in sportsbook product. a. b. Parlay bet mix increased by 1700 BP in qtr. vs. 2Q21. 6. Making great strides on improving the customer experience like ease of getting money on and off platform and many other areas related to overall app usability and experience. Expects to continue to make these investments on an ongoing basis. a. 7. On cost side, continues to drive efficiencies. Captured $40m of 2022 cost opportunity on top of $50m captured in 1Q. a. b. These efficiencies are in...

  
Report Type:

Brief

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Company:
DraftKings Inc
Ticker
Time
12:30pm GMT
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Cite this Report

  
MLA:
Thomson StreetEvents. "DraftKings Inc Q2 2022 Earnings Call Summary" Aug 05, 2022. Alacra Store. May 18, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2022-DraftKings-Inc-Earnings-Call-B15267493>
  
APA:
Thomson StreetEvents. (2022). DraftKings Inc Q2 2022 Earnings Call Summary Aug 05, 2022. New York, NY: Alacra Store. Retrieved May 18, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q2-2022-DraftKings-Inc-Earnings-Call-B15267493>
  
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