Popular sports-betting stock DraftKings slumps 10% after reporting a larger loss than expected
Shares of popular sports-betting company DraftKings slumped as much as 10% in intraday trading Friday after reporting a larger-than-expected loss, even though revenue topped analyst expectations.
55 cents per share reported, versus 20 cents per share The $161.4 million loss was much steeper than the $28.11 million loss the company experienced in the same quarter last year. DraftKing's losses come as the coronavirus pandemic continues to slam sports at both the college and professional level.
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