DraftKings Earnings Beats Estimates. Why the Stock Is Tumbling. – Barrons

DraftKings told investors on Friday that it expected to reach profitability by one financial measure in late 2023.

That forecast, however, was overshadowed by a wider-than-expected projected loss in 2022 as competition in online sports gambling intensifies.

 DraftKings shares (ticker: DKNG) were down 14.5%, to $18.86, in morning trading on…

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