Flutter CEO Peter Jackson advised CNBC customer-friendly ends in the NCAA’s school basketball event weighed on general first-quarter outcomes for FanDuel’s dad or mum firm.
The worldwide sports activities and on-line playing platform reported first-quarter adjusted earnings per share of $1.59, lacking Wall Avenue consensus of $1.89 per share, in line with LSEG. Income for the interval additionally missed Wall Avenue expectations, at $3.67 billion versus LSEG estimates of $3.84 billion.
The corporate lowered its full-year U.S. steerage on account of the unfavorable sports activities outcomes, however raised its outlook for world efficiency primarily based on forex changes and worldwide acquisitions.
Jackson mentioned he anticipates clients will keep their spending on on-line sports activities and on line casino video games amid world financial considerations that appear to be weighing on shopper sentiment extra broadly.