DraftKings Inc. posted a steeper-than-expected loss for the recent quarter, and shares fell 7%, though it said users have started betting again as sporting events began to resume. The online-betting company posted a loss of $161.4 million, or 55 cents a share, compared with a loss of $28.11 million, or 15 cents a share, in the year-ago period. Analysts polled by FactSet were looking for a loss of 20 cents a share. Revenue rose to $70.9 million from $57.4 million. Analysts were looking for $66.4 million.

Source: Wall Street Journal August 14, 2020 17:02 UTC