Paddy Power Betfair’s Q1 19 revenue came in at £478m, up 17%. The performance was driven by strong growth in the US and Australia, which offset the weakness in retail and online. Trading in April was in line with expectations. Management expects full-year profitability to meet estimates in spite of the higher than expected impact of the £2 stake cap in the UK. We will revise our estimates marginally downwards but do not expect any significant change in our recommendation.
....14 May 2019
Good Q1, UK regulatory impact seen at higher end of earlier expectations
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Good Q1, UK regulatory impact seen at higher end of earlier expectations
Flutter Entertainment Plc (FLTR:LON) | 14,805 11103.8 0.5% | Mkt Cap: 26,271m
- Published:
14 May 2019 -
Author:
Virendra Chauhan -
Pages:
3
Paddy Power Betfair’s Q1 19 revenue came in at £478m, up 17%. The performance was driven by strong growth in the US and Australia, which offset the weakness in retail and online. Trading in April was in line with expectations. Management expects full-year profitability to meet estimates in spite of the higher than expected impact of the £2 stake cap in the UK. We will revise our estimates marginally downwards but do not expect any significant change in our recommendation.
....