Flutter slumps as Q4 earnings miss, FY26 guidance disappoints

(Sharecast News) - Bookmaker Flutter reported a clean miss across key fourth‑quarter metrics and issued some softer‑than‑expected 2026 guidance on Friday, driven by weaker betting behaviour during the period. Flutter said group revenue rose 17% to $16.4bn in FY25, up from $14bn a year earlier, with Q4 revenue climbing 25% to $4.7bn. However, net income swung sharply lower, falling 351% from a $162m profit to a $407m loss for the year. Fourth‑quarter net income also dropped 94%, sliding from $156m to $10m.

The London and New York-listed group booked a $515m impairment in the second half, tied to the full closure of its Junglee brand in India following the Modi government's decision to ban all real‑money games and apps from August 2026.

Flutter also cited the impact of its US expansion, M&A activity, higher tax and interest expenses, and non‑cash amortisation of acquired assets as factors behind the decline in net income.

Adjusted underlying earnings, however, provided a brighter spot, rising 21% for the year to $2.8bn and up 27% in Q4 to $832m.

Flutter noted that FanDuel, its US operation, was hit by bettors losing more often than usual during Q4, which discouraged wagering and led to reduced app usage.

Looking ahead, Flutter's 2026 revenue guidance of $17.75bn-$19.05bn also fell short of the $19.34bn expected by Wall Street.

As of 0945 GMT, Flutter shares had sunk 12.17% to 7,968p.

Reporting by Iain Gilbert at Sharecast.com