Fri, Aug 2, 11:08 AM (88 days ago)
DraftKings Inc. filed an amended Form 8-K to correct its financial results for Q2 2024. The revision adjusted the diluted earnings per share (EPS) from $0.12 to $0.10 due to the remeasurement of warrant liabilities under U.S. GAAP. The adjusted EPS remains at $0.22. Additionally, the company's Board of Directors authorized a $1.0 billion share repurchase program for its Class A common stock. This repurchase can be executed through various transactions and is subject to market conditions. The repurchase program is flexible and can be terminated at any time. The financial results and repurchase authorization are significant for evaluating the company's financial health and stock value.