Flutter Entertainment (NYSE:FLUT) stock is skyrocketing following the release of its latest earnings results, exceeding Wall Street expectations with adjusted earnings per share of $2.61 and revenue of $3.61 billion.
CEO Peter Jackson highlighted the company’s exceptional performance in the US market, attributing it to a disciplined customer acquisition approach and a best-in-class product offering.
Guidance Update Sparks Investor Excitement
Flutter Entertainment also raised its guidance, projecting a 3% increase in U.S. revenue to $6.2 billion by 2024 and a 20% jump in group revenue compared to 2023.
As a result, FLUT stock surged by 8.2% on Wednesday afternoon, with 3.6 million shares traded, significantly higher than the daily average.
Stay tuned for more updates on today’s top stock market news, including developments with Edible Garden (NASDAQ:EDBL), Conduit Pharmaceuticals (NASDAQ:CDT), and Intuitive Machines (NASDAQ:LUNR) stock.
Analysis: What Does This Mean for You?
Flutter Entertainment’s impressive earnings report and updated guidance indicate strong growth potential for the company, driving up its stock price and generating excitement among investors. If you’re considering investing in FLUT stock or other related companies, now may be a good time to conduct further research and potentially capitalize on this upward trend in the market.