DraftKings Swings to 1Q Profit on Better Sportsbook Margins

Dow Jones05-08 05:47

By Dean Seal

DraftKings' strong engagement from a growing roster of customers in the past year helped power it to profitability in the first quarter.

The online sports betting company on Thursday posted a profit of $21.1 million, or 3 cents a share, compared with a loss of $33.9 million, or 7 cents a share, in the same quarter a year earlier.

Total quarterly revenue surged 17% to $1.65 billion, beating analyst forecasts for $1.63 billion, according to FactSet.

The Boston-based company's sportsbook registered a 24% jump in revenue and a stronger margin.

"We are off to a fantastic start to the year," Chief Executive Jason Robins said. "Our core business is strong and profitability is inflecting."

DraftKings also backed its 2026 revenue guidance of $6.5 billion to $6.9 billion.

Write to Dean at dean.seal@wsj.com

(END) Dow Jones Newswires

May 07, 2026 17:47 ET (21:47 GMT)

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