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Following the earnings release, shares of DKNG gained 2.2% intraday to close Friday’s trading session at $51.59.
However, the company has yet to generate a profit. In its fiscal second quarter its loss from operations and net loss came in at $302.93 million and 305.53 million, respectively. Its adjusted loss before interest, taxes, depreciation, and amortization stood at $95.30 million, up 59.3% from the same period last year. Furthermore, analysts expect DKNG’s EPS to remain negative until at least 2022.
