Mixed Performance

Flutter Entertainment Plc reported Q1 2026 revenue of $4.304 billion, up 17.4 % year‑over‑year, with the U.S. segment generating $1.76 billion and International $2.54 billion. U.S. sportsbook revenue reached $1.14 billion and iGaming $564 million, both above consensus estimates. Net income margin hit 4.9 %, adjusted EBITDA margin 14.7 %, and EPS of $1.22 per share exceeded the $1.15 consensus by 6.39 %. However, U.S. adjusted EBITDA fell 26 % YoY to $119 million, sportsbook revenue grew only 1 %, and average monthly sportsbook players dropped 6 %. International revenue grew 27 % YoY, with 18 % cumulative cost‑adjusted growth, while operating margin remained 2.7 % and free cash flow margin 5 %.