DraftKings cuts 2026 outlook, forecasts 2027 adjusted EBITDA below estimates
DraftKings forecast 2027 adjusted EBITDA of $800 million to $1 billion, below the $1.12 billion average analyst estimate compiled by Bloomberg. The company cut its fiscal 2026 revenue outlook to $6.35 billion–$6.55 billion and adjusted EBITDA outlook to $175 million–$275 million, citing increased investment in predictions. Third-quarter revenue was $1.33 billion, below analysts’ $1.39 billion estimate.