DraftKings
stock was falling Friday even though the company raised its financial forecasts for 2022 as it plans to launch its online sports betting platform in new states.
DraftKings
(ticker: DKNG) said it now expects revenue for the year to be in the range of $2.16 billion to $2.19 billion, up from its previous call for between $2.08 billion and $2.18 billion. The sports betting company also changed its forecast for adjusted earnings before interest, taxes, depreciation, and amortization to point to a narrower loss of between $800 million and $780 million, compared with its prior call for a loss of between $835 million and $765 million.
