BOSTON — DraftKings Inc. today reported a third-quarter loss of $347.8 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Boston-based company said it had a loss of 98 cents.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 63 cents per share.
The company posted revenue of $132.8 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $132.2 million.
DraftKings shares have nearly quadrupled since the beginning of the year. The stock has more than quadrupled in the past 12 months.