DraftKings shares jumped as much as 5% in early trading after the sportsbook reported second quarter earnings that beat Wall Street estimates.

For the three months ended June 30, 2021, DraftKings reported revenue of $298 million, an increase of 320% compared to $71 million during the same period in 2020. After giving pro forma effect to the business combination with SBTech and Diamond Eagle Acquisition Corp. which was completed on April 23, 2020, as if it had occurred on January 1, 2019, revenue grew 297% compared to the three months ended June 30, 2020.

“DraftKings had a particularly strong second quarter of 2021, maintaining our impressive financial performance while also advancing into new areas, such as media and NFTs. We believe these expansion opportunities will enable us to further grow our customer base and generate additional revenues through cross-selling to our existing players,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. “We also are excited that the migration to our proprietary in-house online sports betting technology is substantially complete, with only one state remaining pending approval.”

Jason Park, DraftKings’ Chief Financial Officer, added, “We delivered strong growth in new customers and revenue. Our $298 million in second quarter revenue represents a 297% increase year-over-year. Additionally, we grew Monthly Unique Payers by 281% and Average Revenue Per Monthly Unique Payer by 26%. We are again raising our revenue outlook for 2021 as we continue to expect robust growth in the states where we are currently live today.”