Flutter shares get a lift from Q4 revenue performance
Shares in Flutter jump more than 12% after reporting a jump in Q4 revenues. Shares in peer Entain get a lift too. IGTV's financial analyst @AngelineOng looks at the share reaction.
(Video Transcript)
Flutter surges to a top-performing FTSE stock
The shares of an online betting giant, Flutter Entertainment, have recently seen a big jump in value, increasing by about 12%. This surge has made it one of the top-performing stocks on London's FTSE index.
Initially, the increase was a bit lower, but it has now reached an impressive 12.1%. This rise in share price could indicate the company's best performance in terms of stock value since August 12, 2022.
Q4 revenue grew 15%
The company's strong performance can be credited to its fourth-quarter revenue growth, which showed a 15% increase. However, its Fangio US business, which contributes 26% to the company's revenue, did not meet expectations.
But don't worry, the company claims that its three other main divisions have achieved revenue growth as projected. On top of that, another company in the same industry, Entain, has also experienced a rise in share price, going up by 4.3%. This suggests that there is positive momentum in the market, which could mean good news for both companies.
To put it simply, imagine you're playing a game and you're winning. That's what's happening to the shares of this online betting giant. They're going up, and it could be their best performance in a while.
Flutter is on a roll
One of the reasons for this is because the company made more money in the last quarter, around 15% more. But there's a part of the business that didn't do as well as expected, the Fangio US. However, Flutter says their other main divisions did meet expectations.
And guess what? There's another company in the same industry, Entain, and their shares are going up too. This means that the whole market is doing well, and it could be a really good time to invest in these companies' stocks.
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