Flutter Entertainment Plc, a leading gambling company, has experienced a surge in its stock prices following the release of its second-quarter financial results. The company reported earnings of $2.61 per share, representing a significant increase from $1.67 per share in the previous year, and revenue of $3.611 million, up from $3.001 million year-over-year.
CEO Peter Jackson expressed satisfaction with Flutter's performance, commenting on the company's ability to leverage its global scale and product offerings to achieve strong results. Flutter's success in the U.S. market was highlighted, with Jackson attributing it to the company's disciplined customer acquisition approach and high-quality product, particularly in the sportsbook segment.
Flutter Entertainment revealed an optimistic outlook, raising its fiscal year revenue guidance for both the U.S. and Group Ex-U.S. markets. The company now expects U.S. revenue to fall within the range of $6.05 billion to $6.35 billion and Group Ex-U.S. revenue between $7.85 billion to $8.15 billion. Following the earnings release, Flutter's stock prices saw an increase of 10.18% in after-hours trading, reaching $210.88 per share at the time of publication on Tuesday.