A gambler-friendly March Madness crimps DraftKings earnings

Net Q1 revenues at sports betting company DraftKings fell slightly short of Wall Street expectations in its report after the close Thursday.

But it matched its bogey for earnings per share and investors seem to be giving DraftKings a pass, with shares up in early trading.

The company blamed some of its revenue miss on “customer-friendly sport outcomes,” likely a reference to the lack of upsets in the March Madness men’s NCAA basketball tournament, which FanDuel parent Flutter Entertainment also blamed for its own less-than-stellar results.

Still, the resilience in the shares suggests that investors will still put down some chips on DraftKings and are perhaps buying the optimistic spin laid out by CEO Jason Robins.

“If not for customer-friendly sport outcomes in March, we would be raising our fiscal year 2025 revenue and Adjusted EBITDA guidance,” he said in a statement.

More Markets

See all Markets

Tasha Matsumoto

17m

Stocks gain and oil dips as traders evaluate US-Iran deal progress

Stocks managed to eke out a gain while the price of oil dipped as traders evaluated the progress on a deal with Iran.

Caricature illustration depicting three French bulls in a field. 'Le Rire' magazine 1902.

Saleah Blancaflor2h

US gas prices rise again, sitting at their highest levels in four years ahead of Memorial Day weekend

Just days away from Memorial Day weekend, the national average of US gas prices rose from a week earlier and sat at the highest they've been in four years.

The price is currently $4.56 a gallon, up 3 cents over last week, and $1.38 higher than this time last year, according to AAA. Today's prices are right around what customers were paying four years ago, when the price on Memorial Day was $4.61. Gas prices experienced a short-lived dip earlier this month before rising again.

Gasoline is in high demand ahead of Memorial Day weekend and the Strait of Hormuz remains closed because of the war in Iran, leaving prices elevated as more drivers hit the road. GasBuddy's Patrick De Haan predicts that gas prices could soon hit $4.80 a galloon soon amid the Strait closure.

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Memorial Day Weekend Gas Prices Reach Four-Year Highs

Oil prices ticked up slightly on Thursday, with WTI sitting around $100 a barrel, after plunging on Wednesday.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Luke Kawa

What Wall Street’s saying about Nvidia’s Q1 results

A makeover beautifies the growth outlook; so does the CPU opportunity.

Jensen Huang in front of Vera Rubin at CES 2026

Helena Cheng7h

SoftBank rallies on OpenAI and SB Energy IPO plans; its Japanese-traded stock notches best day since 2000

SoftBank shares skyrocketed in Tokyo trading, notching their biggest daily gain since 2000, boosted by news about planned IPOs at OpenAI, in which SoftBank has a sizable stake, and SoftBank’s own SB Energy unit. ADRs of SoftBank traded in the US rallied, too.

OpenAI is accelerating the timeline to its public debut, preparing to confidentially file its IPO prospectus with regulators as early as Friday, according to The Wall Street Journal. That could set the stage for a highly anticipated public listing as early as September.

SoftBank has systematically expanded its financial exposure to OpenAI, securing a highly valuable stake in the company. As of the fiscal year-end, SoftBank’s cumulative investment in OpenAI totaled $34.6 billion, with a fair value of $79.6 billion, and cumulative investment gains totaled $45 billion, according to a SoftBank filing.

For SoftBank, a successful public debut is critical to demonstrating that OpenAI can protect its market position amid intense industry pressure. Investors have grown increasingly anxious that OpenAI is losing ground to competitors like Anthropic, which is currently in talks for a funding round that could push its own valuation past that of OpenAI.

Adding to the upward momentum, SB Energy, the digital infrastructure and clean energy development firm co-owned by SoftBank and Ares Management, confirmed its own confidential draft registration filing for a major US public listing.

This multipronged IPO pipeline has boosted investors’ confidence in billionaire founder Masayoshi Son’s high-conviction AI thesis, showcasing a road map for SoftBank to transition its paper gains into potential liquidity. SoftBank’s stock is up 37% so far this year.

Luke Kawa

Maybe we should all agree to not talk about Nvidia’s stock after earnings

It’s probably making people dumber.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.