DraftKings Stock Surrenders Q2 Earnings Pop: What's Going On?

DraftKings Inc (NASDAQ:DKNG) shares are trading lower Thursday after the company reported financial results for the second quarter. Shares initially moved higher on the report before reversing course and turning negative. Here’s what you need to know.

What To Know: DraftKings reported second-quarter revenue of $1.51 billion, beating analyst estimates of $1.39 billion, according to Benzinga Pro. The company reported second-quarter adjusted earnings of 38 cents per share, beating estimates of 12 cents per share.

DraftKings affirmed its full-year revenue guidance of $6.2 billion to $6.4 billion versus estimates of $6.28 billion. The company also maintained its full-year Adjusted EBITDA forecast of $800 million to ...