Flutter reported strong sales growth in Q1 20. Overall revenue was up 16% to £547m, helped by broad-based growth across the US, Australia and online, which offset the expected decline in retail. More importantly, the drop in performance since the implementation of COVID-19 related restrictions and widespread sports cancellations was less than expected. We will be raising our estimates to factor in the strong performance and softer-than-expected COVID-19 headwinds.
18 Apr 2020
Encouraging Q1 in the face of COVID-19 headwinds
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Encouraging Q1 in the face of COVID-19 headwinds
Flutter Entertainment Plc (FLTR:LON) | 14,928 -8210.1 (-0.4%) | Mkt Cap: 26,488m
- Published:
18 Apr 2020 -
Author:
Virendra Chauhan -
Pages:
3
Flutter reported strong sales growth in Q1 20. Overall revenue was up 16% to £547m, helped by broad-based growth across the US, Australia and online, which offset the expected decline in retail. More importantly, the drop in performance since the implementation of COVID-19 related restrictions and widespread sports cancellations was less than expected. We will be raising our estimates to factor in the strong performance and softer-than-expected COVID-19 headwinds.