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Flutter first-half earnings fall 20%, expects full-year turnaround

DUBLIN (Reuters) - Flutter posted a 20% fall in first-half earnings but expects to finish the year ahead of 2021 excluding an expected final year of losses in its fast growing...
Flutter first-half earnings fall 20%, expects full-year turnaround © Reuters. FILE PHOTO: Flutter's logo is pictured on a smartphone in front of the stock graph displayed in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic

DUBLIN (Reuters) - Flutter posted a 20% fall in first-half earnings but expects to finish the year ahead of 2021 excluding an expected final year of losses in its fast growing U.S. business, the world's largest online betting firm said on Friday.

Adjusted EBITDA fell to 476 million pounds ($580 million)from 597 million a year ago and the record 684 million reached during the stay-home gambling boom of the COVID-19 hit first half of 2020. Excluding the U.S. business, first-half earnings were down 11%.

The Paddy Power, Betfair and FanDuel owner said it expected full-year core earnings of between 1.29 billion pounds and 1.39 billion pounds, excluding a U.S. loss of 225 million to 275 million pounds.

It posted core earnings of 1.24 billion pounds in 2021.

($1 = 0.8205 pounds)

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1.0658

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USD/JPY

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AUD/USD

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USD/CAD

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0.9808

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
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