Flutter Entertainment Hit by Customer-Friendly NFL Outcomes -- Market Talk

Dow Jones01-08

0844 ET - FanDuel parent Flutter Entertainment's warning on 4Q and full-year revenue expectations isn't shaking the confidence of Oppenheimer analysts. They say the market seemed to be bracing for a miss and that they are buyers on weakness. Flutter's guidance was hurt by customer friendly NFL outcomes, but the analysts say it's not indicative of any changes in underlying fundamentals. "We continue to believe hold outcomes are transitory and smooth out over time," the analysts say. They also say they expect the FanDuel brand to maintain its leading U.S. market share. Flutter is off 2.3% premarket trading. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

January 08, 2025 08:44 ET (13:44 GMT)

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