Flutter reported strong Q3 20 revenue growth of 30%, driven by broad-based growth across all segments, which more than offset the 2% decline in retail revenues and a 10% drop in poker revenue (within the PokerStars brand). Management now expects FY20 EBITDA of ~£1.14bn (£1.275-1.35bn ex-US EBITDA offset by the £160-180m loss in the US). Following the strong Q3 showing as well as the guidance upgrade, we will be raising our estimates.
12 Nov 2020
Q3 20: firing on all cylinders
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Q3 20: firing on all cylinders
Flutter Entertainment Plc (FLTR:LON) | 14,795 4438.5 0.2% | Mkt Cap: 26,253m
- Published:
12 Nov 2020 -
Author:
Virendra Chauhan -
Pages:
3
Flutter reported strong Q3 20 revenue growth of 30%, driven by broad-based growth across all segments, which more than offset the 2% decline in retail revenues and a 10% drop in poker revenue (within the PokerStars brand). Management now expects FY20 EBITDA of ~£1.14bn (£1.275-1.35bn ex-US EBITDA offset by the £160-180m loss in the US). Following the strong Q3 showing as well as the guidance upgrade, we will be raising our estimates.