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DraftKings Inc. shares soared in late trading Thursday, after the sports-gambling company crushed Wall Street’s revenue expectations and executives increased their targets for the full year.
DraftKings DKNG reported a first-quarter loss of $397.1 million, or 87 cents a share, an improvement from a loss of $1.07 a share a year ago. Revenue increased to $769.7 million from $417 million in the same quarter last year. Analysts on average expected a loss of 88 cents a share on sales of $704 million, according to FactSet.
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