Boston, MA – Shares of DraftKings Inc. (NASDAQ: DKNG) surged after the sports-betting and entertainment company announced record-breaking revenue and a significant profit beat for the second quarter of 2025. The impressive results were driven by a notable increase in how much its users are betting and losing, marking only the second profitable quarter for the company in at least five years.
The company reported a staggering 147.5% increase in net income, reaching $157.9 million for the quarter ending June 30. This translated to earnings per share of 30 cents, doubling the consensus estimate from analysts. Overall revenue grew by nearly 37% to a record $1.51 billion, surpassing forecasts of $1.42 billion.
A key factor in this financial success was a significant jump in the average revenue per user. The average monthly unique payer (MUP) spent $151, a 29% increase from the previous year. This growth in spending far outpaced the 6% rise in the number of monthly unique payers, which stood at 3.3 million. The company attributed this to an improved sportsbook hold percentage—meaning the house won more frequently—and more efficient promotional spending.
“We set records for revenue, net income and Adjusted EBITDA in the second quarter, driven by an acceleration in revenue growth to 37% year-over-year,” said Jason Robins, DraftKings’ Chief Executive Officer and Co-founder.
The strong performance was fueled by a 45.3% increase in sportsbook revenue to $997.9 million and a 22.6% rise in iGaming revenue. The company’s adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) also hit a record $301 million.
Looking ahead, DraftKings maintained its full-year revenue guidance for 2025, expecting to be closer to the high end of its previously announced range of $6.2 billion to $6.4 billion.The company also reaffirmed its adjusted EBITDA guidance of $800 million to $900 million.
The positive earnings report led to a rally in DraftKings’ stock, with shares jumping in after-hours trading. The stock has already seen a significant rise of 21.9% in 2025. This latest news is likely to provide further momentum as the company heads into the busy fall sports season.
