HomeIndustriesFlutter Releases Full-Year Profit; U.S. Business Outperforms

Flutter Releases Full-Year Profit; U.S. Business Outperforms

Global online betting company Flutter released its full-year core profit on Thursday, meeting its forecast range. The company’s full-year profit excluding the U.S. of 1.295 billion pounds ($1.55 billion) fell within the forecasted range of 1.29 billion pounds to 1.39 billion pounds. This represents an annual growth of 4%.

The world’s largest betting company, Flutter has made significant inroads with its United States business. The company far exceeded expectations for its U.S. business, generating a revenue of $3.2 billion. This was largely driven by Flutter’s rapidly growing FanDuel brand. While the company ended 2022 with a core loss of $313 million in the U.S., this result far outperforms the company’s expected loss between $$300 million to $360 million.

Becoming the largest division of the company by revenue, Flutter’s U.S. business is on track to becoming profitable for the first time this year, the company claimed. As a result of its mass expansion, the company reported that its U.S. market share has grown from 43% to 50% over the past year.

Stocks Continue Slide as Israel-Iran Tension Ensues

Stocks on the New York Stock Exchange continued their drop-off on Friday as investor anxiety rose following Israel's retaliatory strike against Iran. Market composure...

United Airlines Stock Jumps 14% After Strong Q1 Results and Optimistic Projections for Q2

Following a strong first-quarter earnings report, United Airlines saw its stock jump 14% on Wednesday. Investors were also intrigued by the company’s optimistic projections...

iPhone Shipments Drop By 10%, Get Overtaken By Samsung as World’s Largest Phone Seller

2024 is shaping up to be a challenging year for tech giant Apple. The company saw its iPhone shipments drop by almost 10% in...