Flutter reports Q3 revenue miss and cuts 2026 guidance as new CEO pushes FanDuel promotions
Flutter Entertainment posted third‑quarter revenue of $3.87 billion, up 2.1% year‑over‑year but below consensus, and adjusted EBITDA of $360 million, both missing expectations. New CEO Dan Taylor highlighted FanDuel’s U.S. revenue growth, a nationwide rewards program and the FanDuel Predicts platform as drivers of future profit, while the company cut its 2026 revenue target by $300 million to $17.61 billion. The firm also recorded a net loss of $1.15 billion, including an $873 million non‑cash impairment from Brazil.
Why it matters
The revenue guidance cut and weaker adjusted EBITDA signal short‑term earnings pressure for investors (the company’s own release states the $300 million reduction). Analysts note that the focus on promotions may increase cost‑of‑sales, affecting margins going forward (as described by the CEO in the earnings call).
Key facts
- 1Third‑quarter revenue was $3.87 billion, up 2.1% YoY. finance.yahoo.com
- 2Flutter reduced its 2026 revenue target by $300 million to $17.61 billion. finance.yahoo.com
- 3U.S. FanDuel revenue grew 6% YoY to $1.45 billion. finance.yahoo.com
- 4FanDuel Predicts recorded $119 million in volume in Q3, up 102% from Q2. finance.yahoo.com
- 5Adjusted EBITDA for the quarter was $360 million, down roughly 25% YoY. cnbc.com
- 6Adjusted loss was 18 cents per share versus analysts’ expectation of a 28‑cent loss. cnbc.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.