Flutter Shares Fall After Fans’ Winning Bets Undermine Profit
- Company’s adjusted earnings in 2022 missed estimates
- Firm took £40 million hit on fan-friendly results in December
This article is for subscribers only.
Flutter Entertainment Plc shares fell as much as 6.6% in London after the sports betting company missed 2022 earnings estimates due to customers’ winning wagers in December and competitive challenges in Australia.
Adjusted earnings before interest, taxes, depreciation and amortization rose to £1.05 billion ($1.3 billion), the Dublin-based company said in a statement Thursday, compared to the £1.07 billion average estimate from analysts in a Bloomberg survey.