FanDuel parent Flutter reports disappointing fourth-quarter earnings

FanDuel parent Flutter Entertainment announced fourth-quarter earnings Thursday that missed Wall Street expectations on nearly every metric.

FanDuel’s performance in the final quarter of 2025 was affected by bettors losing more often than usual. When that happens, gamblers get discouraged, bet less and stop using the app as frequently, Flutter CEO Peter Jackson told CNBC in an interview.

“It’s fair to say, not everything went our way in the fourth quarter,” Jackson said.

Shares of Flutter fell almost 7% in extended trading Thursday.

Here’s what the company reported for the fourth quarter, compared with Wall Street consensus:

• Revenue: $4.74 billion vs. $4.97 billion, according to LSEG
• Adjusted EPS: $1.74 vs. $1.95, according to LSEG

For the fourth quarter, Flutter reported adjusted earnings before interest, taxes, depreciation and amortization of $832 million, below the $893 million that Wall Street was expecting, according to StreetAccount.

And Flutter’s 2026 revenue guidance of $17.75 billion to $19.05 billion was lower than analysts’ projection of $19.34 billion for the year.