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Investing.com -- Entain (LON:ENT) forecast full-year core profit above market expectations, citing strong performance in its key U.K. and Ireland markets.
The Ladbrokes (LON:LCL) owner now expects 2025 underlying earnings of £1.10 billion to £1.15 billion ($1.48 billion-$1.55 billion), compared with the consensus of £1.11 billion.
The company said a stronger-than-expected recovery in market share across core regions, supported by higher betting volumes and online player spending, helped offset a tough comparison with last year’s second quarter, which was boosted by the Euros football tournament.
Annual online net gaming revenue (NGR) is now seen growing about 7% at constant currency, up from prior guidance for mid-single-digit growth.
For the six months to June 30, online net gaming revenue rose 10% at constant currency, while group NGR grew 3% to £2.63 billion, 2% below consensus estimates.
Underlying EBITDA increased 11% to £583 million, 5% ahead of expectations.
"Entain has again delivered numbers consistent with guidance," Jefferies analyst James Wheatcroft said in a note.
"2H25 reinvestment, FX and Brazil tax means the new EBITDA guidance range for FY25E sits in line with current consensus at the midpoint," they noted.
Net debt to EBITDA stood at 3.1x.