(Bloomberg) -- DraftKings Inc. shares fell after the company reported fourth-quarter monthly users that were below analyst estimates.
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The company said on average it had 2 million monthly unique paying customers engaged with DraftKings during each month of the fourth quarter. Analysts were looking for 2.1 million. Average Revenue per monthly unique player of $77 was a beat, topping the highest analyst estimate of $75.40.
Shares fell 14% to $19 in premarket trading in New York.
The company also introduced 2022 adjusted Ebitda guidance for a loss between $825 million and $925 million. That’s far bigger than estimates for a loss of about $699 million and the highest forecast for a loss of $739 million, data compiled by Bloomberg show.
That forecast for adjusted Ebitda reflects launches in New York and Louisiana, but doesn’t include the impact of any new state launches after today.
For more on DraftKings Fourth-Quarter Earnings, click here for our TOPLive blog.
Story Link: DraftKings Sinks After Monthly Users Miss Analyst Estimates
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