Flutter Entertainment reported its first-quarter 2025 earnings on May 7, 2025, surpassing Wall Street expectations and subsequently raising its full-year guidance. The company posted adjusted earnings of $1.59 per share, exceeding the estimated $1.89 per share, and revenue of $3.67 billion, compared to LSEG estimates of $3.84 billion.
The company swung to a net income of $335 million in Q1 2025, a significant turnaround from a $177 million loss in the prior year. U.S. revenue for the quarter surged 18% to $1,666 million, with U.S. Adjusted EBITDA seeing a massive increase from $26 million in Q1 2024 to $161 million in Q1 2025, pushing the margin to 9.7%.
FanDuel's U.S. revenue of $1.79 billion came in higher than expectations, and its adjusted EBITDA was nearly $100 million above analyst consensus, with June delivering a record gross revenue margin of 16.3%. Flutter lifted its full-year 2025 revenue guidance to $16.63 billion to $17.53 billion, up from $15.48 billion to $16.38 billion, reflecting strong underlying momentum despite some unfavorable U.S. sports results.
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