DraftKings Q2 rev +26% to $1.1B, corrects GAAP diluted EPS to $0.10, launches $1B buyback

DraftKings Inc.

2024-Q2 EPS reported -$0.17 revenue$2,279,437,000

Revenue $1,104M (+26% YoY); MUPs up 50% to 3.1M; ARPMUP $117 (-15%).
GAAP diluted EPS corrected to $0.10 (vs originally reported $0.12); Adj. EPS $0.22 unchanged.
2024 revenue guidance raised to $5.05-5.25B; 2024 Adj. EBITDA guidance cut to $340-420M from $460-540M.
Board authorized $1.0B share repurchase; plans gaming tax surcharge in high-tax states in 2025.
Fiscal 2025 Adj. EBITDA guidance maintained at $900M-$1.0B, excluding the planned surcharge.

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