Flutter misses Q3 forecasts with $3.87B revenue

Flutter Entertainment missed analyst forecasts in the third quarter and cut its outlook for the year, as Brazil’s market shutdown and customer-friendly sports outcomes hit profitability.

The group’s adjusted EBITDA fell by a quarter to $360 million, even though revenue edged up 2% to $3.87 billion, short of the $3.97 billion consensus. Higher costs offset gains in both sportsbook and iGaming revenue, with the US the fastest-growing division. International revenue was flat as sportsbook revenue in the region declined.

Full-year revenue guidance now sits at $17.34 billion to $17.89 billion, after the company lowered both its revenue and EBITDA targets.

Dan Taylor, Flutter Entertainment CEO, said:

“Online betting and gaming is still a relatively young industry, with significant room to grow as markets develop and customer behaviour evolves. Flutter enters its next phase from a position of strength.”

Taylor, who previously led Flutter’s International division, became group CEO on October 1, succeeding Peter Jackson. On a per-share basis, Flutter reported an adjusted loss of 18 cents, compared with analyst expectations of a 19-cent profit. The shares have lost more than 60% of their value over the past 12 months.

The update follows Flutter’s decision to make interim FanDuel chief Christian Genetski permanent CEO from January 1, 2027.