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DraftKings (DKNG) delivered earnings and revenue surprises of -59.09% and -3.84%, respectively, for the quarter ended June 2026. Do the numbers hold clues to what lies ahead for the stock?
The online sports betting company posted a loss of $67.6 million for the second quarter, compared with a profit of $157.9 million a year earlier.
Flutter Entertainment announced the resignation of its longtime CEO Peter Jackson when it reported second-quarter earnings on Wednesday. Despite a nine-year tenure that saw Flutter grow from a $2 billion U.K.-focused business to a $16 billion international betting titan, Jackson isn’t going out on a high note. Shares of the world’s largest betting firm and FanDuel parent company were down as much as 14% Wednesday after the firm reported mixed results and reduced its full-year guidance.
U.S. online gambling operator BetMGM on Tuesday downgraded its annual outlook for the second time this year and pushed back its target of reaching $500 million in profit, as competition from prediction market platforms mounts intensifies. Licensed sportsbook operators in the U.S. are facing growing pressure from prediction market platforms such as Kalshi, while FanDuel, DraftKings and Fanatics have launched similar products, raising customer acquisition costs and threatening sports betting market share.
The SpaceX IPO is here, Apple’s second chance on AI plans, Iran war’s next 100 days, and more news to start your day.
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