DraftKings has beaten Wall Street expectations for first-quarter revenue and profit. The company said its push into prediction markets through its Super App was already lowering customer acquisition costs, sending shares higher in extended trading.
The U.S. sports betting operator reported revenue of $1.65 billion for the quarter ended March 31, marking a 17% increase from the previous year. This growth was primarily fueled by the company's efficient expansion into prediction markets with its Super App, which helped reduce customer acquisition expenses.
