Flutter Entertainment Analysts Boost Their Forecasts After Upbeat Q2 Results

Financial Performance - Flutter Entertainment reported second-quarter revenue of $4.19 billion, representing a 16% year-over-year increase, surpassing the Street consensus estimate of $4.06 billion [1] - The company achieved adjusted earnings per share of $2.95, exceeding the Street consensus estimate of $2.05 [1] Strategic Initiatives - CEO Peter Jackson highlighted the strong underlying performance and progress on key strategic initiatives, emphasizing organic growth and value-creating M&A as drivers for revenue growth [2] - Flutter is raising its full-year revenue guidance to $17.26 billion, up 23% year-over-year, from a previous estimate of $17.08 billion [2] - The adjusted EBITDA guidance has also been increased to $3.295 billion, up from the prior guidance of $3.18 billion [2] Analyst Ratings and Price Targets - Following the earnings announcement, Needham analyst Bernie McTernan maintained a Buy rating and raised the price target from $340 to $355 [5] - Barclays analyst Brandt Montour also maintained an Overweight rating and increased the price target from $350 to $352 [5]