Flutter (FLUT) Q2 2025 earnings report

Introduction to Flutter’s Earnings

Online sports betting giant Flutter reported second-quarter earnings that beat Wall Street expectations Thursday. The company reported adjusted earnings of $2.95 per share versus an estimated $2.08, according to a survey of analysts. Revenue came in slightly higher than expectations at $4.19 billion against consensus expectations of $4.13 billion.

Performance of FanDuel

Flutter owns the dominant U.S. sportsbook FanDuel, and FanDuel’s holding a winning hand. Its U.S. revenue for the quarter of $1.79 billion came in slightly higher than expectations, and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, was nearly $100 million higher than analyst consensus. June was especially good for FanDuel in terms of sports outcomes. It delivered the highest gross revenue margin on record of 16.3%.

Guidance and Challenges

Flutter also raised its full-year guidance, citing the effect of U.S. sports results and tax changes, among other things. Despite the beats, CEO Peter Jackson said state taxes could have a real effect, potentially sending gamblers to offshore, illegal sportsbooks. "If you look at Illinois," Jackson said, "We’re very disappointed what they’ve done now. We think the taxes that they brought in will have a really, sort of, negative impact on the very recreational, super casual users."

Conclusion

In conclusion, Flutter’s second-quarter earnings were a success, beating Wall Street expectations. The company’s dominant U.S. sportsbook, FanDuel, performed well, with high revenue and adjusted EBITDA. However, the company faces challenges, including state taxes that could negatively impact its business.

FAQs

Q: What were Flutter’s second-quarter earnings?

A: Flutter reported adjusted earnings of $2.95 per share, beating the estimated $2.08.

Q: How did FanDuel perform in the second quarter?

A: FanDuel’s U.S. revenue for the quarter was $1.79 billion, slightly higher than expectations, and its adjusted EBITDA was nearly $100 million higher than analyst consensus.

Q: What is the potential impact of state taxes on Flutter’s business?

A: According to CEO Peter Jackson, state taxes could have a negative impact on the company’s business, potentially sending gamblers to offshore, illegal sportsbooks.

Q: Did Flutter raise its full-year guidance?

A: Yes, Flutter raised its full-year guidance, citing the effect of U.S. sports results and tax changes, among other things.