Guidance adjustment

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March Madness drags down Flutter first-quarter results
CNBCยท 2025-05-07 20:18
Group 1 - The core viewpoint is that the NCAA's college basketball tournament results negatively impacted the first-quarter performance of FanDuel's parent company, Flutter [1] - Flutter reported first-quarter adjusted earnings per share of $1.59, which fell short of Wall Street's consensus estimate of $1.89 per share [1] - The company's revenue for the first quarter was $3.67 billion, missing the LSEG estimates of $3.84 billion [1] Group 2 - The company has lowered its full-year U.S. guidance due to unfavorable sports results, but has raised its outlook for global performance based on currency adjustments and international acquisitions [2] - The CEO anticipates that customers will continue to spend on online sports and casino games despite broader global economic concerns affecting consumer sentiment [2]