Parent FanDuel Flutter Entertainment reported fourth-quarter results Thursday that missed Wall Street expectations on almost every metric.
FanDuel’s performance in the final quarter of 2025 was affected by bettors losing more often than usual. When this happens, players become discouraged, bet less and stop using the app as frequently, Flutter CEO Peter Jackson told CNBC in an interview.
“It’s fair to say that everything didn’t go as planned in the fourth quarter,” Jackson said.
Shares of Flutter fell nearly 7% in extended trading Thursday.
Here’s what the company reported for the fourth quarter, compared to Wall Street consensus:
- Income: $4.74 billion versus $4.97 billion, according to LSEG
- Adjusted EPS: $1.74 versus $1.95, according to LSEG
For the fourth quarter, Flutter reported adjusted earnings before interest, taxes, depreciation and amortization of $832 million, lower than the $893 million Wall Street expected, according to StreetAccount.
Its fourth-quarter revenue marked a year-over-year increase of 25%. And yet, Flutter’s 2026 revenue forecast of $17.75 billion to $19.05 billion was lower than analysts’ forecasts of $19.34 billion for the year.
During the company’s earnings conference call, Jackson told investors that prediction markets would likely encourage more state legalization of sports betting. He also said the company found no evidence that prediction markets are cannibalizing the sports betting industry.