Sports betting company DraftKings Inc (NASDAQ:DKNG) could provide more details on how it is competing against prediction markets and its recent acquisition in the space when the company report third-quarter financial results Thursday after market close.

• DKNG is testing key support levels. Get the details here.

Here are the earnings estimates, what analysts are saying and key items to watch.

Earnings Estimates: Analysts expect DraftKings to report third-quarter revenue of $1.23 billion, up from $1.09 billion in last year's third quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in five of the past 10 quarters overall, including the recently reported second quarter.

Analysts expect DraftKings to report a loss of 40 cents per share in the third quarter, down from a loss of 17 cents per share in last year's third quarter.

The company has beaten analyst estimates for earnings per share in nine of the last 10 quarters overall, including the most recently reported second quarter.

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What Analysts Are Saying: Bank of America Securities analyst Shaun C. Kelley downgraded both DraftKings and peer company Flutter Entertainment (NYSE:FLUT) ahead of their upcoming earnings reports.

The analyst said there are numerous challenges facing the sports betting companies, including the rise of prediction markets.

Kelley downgraded DraftKings stock from Buy to Neutral and lowered the price target from ...

Full story available on Benzinga.com