BofA warns Fed risks policy mistake with early rate cuts
NEW YORK - Flutter Entertainment (NYSE:FLUT) reported second-quarter earnings that exceeded Wall Street expectations on Wednesday, driven by robust growth in its US operations and strong iGaming performance, though shares slipped 0.6% following the announcement.
The world’s leading online sports betting and iGaming operator posted adjusted earnings per share of $2.95, significantly beating analyst estimates of $2.11. Revenue reached $4.19 billion, surpassing the consensus forecast of $4.08 billion and representing a 16% increase YoY. The company’s adjusted EBITDA grew 25% to $919 million, with margins expanding 150 basis points to 21.9%.
US operations continued to power Flutter’s growth, with revenue increasing 17% YoY to $1.79 billion. US adjusted EBITDA surged 54% to $400 million, reflecting strong operating leverage as the segment’s margin expanded 530 basis points to 22.3%. The company’s iGaming revenue was particularly impressive, jumping 42% in the US and 27% internationally.
"I am pleased with the excellent underlying performance we have delivered in the second quarter alongside the good progress made on a number of key strategic initiatives," said Peter Jackson, CEO of Flutter. "Revenue grew by 16% year-on-year, as we continue to build scale positions in the most attractive markets through strong organic growth and value creating M&A."
Following the strong performance, Flutter raised its full-year 2025 guidance, now expecting group revenue of $17.26 billion (midpoint) and adjusted EBITDA of $3.295 billion, representing YoY growth of 23% and 40% respectively.
The company completed several strategic initiatives during the quarter, including the acquisitions of Snai and NSX, which established Flutter as the largest operator in Italy and created a scale position in Brazil. Flutter also accelerated its ownership of FanDuel to 100% and gained additional US index inclusion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.