Flutter Entertainment reported its second-quarter 2025 earnings on August 7, 2025, surpassing Wall Street expectations and raising its full-year guidance. The company reported adjusted earnings of $2.95 per share, significantly higher than the estimated $2.08, with revenue reaching $4.19 billion against consensus expectations of $4.13 billion.
FanDuel, Flutter's dominant U.S. sportsbook, delivered strong performance, with U.S. revenue for the quarter at $1.79 billion, exceeding expectations. U.S. adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were nearly $100 million higher than analyst consensus, driven by a record gross revenue margin of 16.3% in June.
Flutter raised its full-year guidance, citing the positive effect of U.S. sports results and tax changes. CEO Peter Jackson, however, expressed disappointment regarding the Illinois tax, stating concerns that such taxes could potentially drive gamblers to offshore, illegal sportsbooks, impacting the recreational user base.
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