US sports betting/daily fantasy/online casino operator DraftKings saw its stock soar even higher on Friday despite posting a somewhat dire Q1 earnings report.

On Friday, DraftKings released its first earnings report following its debut on the Nasdaq exchange last month. The release helpfully offers evaluations on both ‘Old DraftKings’ and SBTech, the European-based betting tech provider that DraftKings absorbed as part of the ‘business combination agreement’ it struck last December.

Old DraftKings generated revenue of $88.5m in the three months ending March 31, up 30% from the same period last year. The company failed to offer insights into how its revenue was split between daily fantasy sports, ‘real’ sports betting and its online casino operations in New Jersey.

Costs were up across the board, particularly sales & marketing costs as the company fought for sports betting customers in states where such activity is legal. Those costs resulted in an earnings loss of nearly $49.5m and a net loss of nearly $68.7m, both of which were more than double the sums DraftKings lost in Q1 2019.