DraftKings Inc. shares rose as much as 15% to their highest level in nearly three-and-a-half years after the company reported fourth-quarter earnings that beat expectations and raised its sales guidance for the current year.

Shares of DraftKings Inc. rose after hours Thursday after the sports-betting platform offered a more optimistic sales outlook for this year, as it moves ahead with things like live betting and deepens its push into U.

DraftKings stock was rising even after the company missed fourth-quarter financial expectations. The online sports betting company reported a fourth-quarter loss of 28 cents a share on revenue of $1.39 billion.