Flutter Entertainment (FLUT) Q2 FY2025 earnings: revenue $4.2 billion, up 16.0% on the year
Flutter Entertainment plc (FLUT) reported revenue of $4.2 billion for Q2 FY2025, the quarter ended 30 June 2025, up 16.0% on the same quarter a year earlier. Net income was $105 million, down 59.8% on the year, and diluted earnings per share $0.59. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2025.
Revenue
$4.2 billion
+16.0% on the year · +14.2% on the quarter
Q3 FY2023Q2 FY2025
Operating margin
9.3%
10.2% a year earlier
Q3 FY2023Q2 FY2025
Net income
$105 million
-59.8% on the year · -62.9% on the quarter
Q3 FY2023Q2 FY2025
Diluted EPS
$0.59
-59.3% on the year · -62.4% on the quarter
Q3 FY2023Q2 FY2025
this quarterthe same quarter a year earlierHover a bar for its figure.
Income statement (profit and loss)
$ million
Q2 FY2025
Q1 FY2025
Q2 FY2024
On the quarter
On the year
Last 8 quarters
Revenue
4,187
3,665
3,611
+14.2%
+16.0%
Cost of revenue
2,228
1,956
1,835
+13.9%
+21.4%
Gross profit
1,959
1,709
1,776
+14.6%
+10.3%
Gross margin
46.8%
46.6%
49.2%
Research and development
256
215
216
+19.1%
+18.5%
Operating income
389
223
369
+74.4%
+5.4%
Operating margin
9.3%
6.1%
10.2%
Interest expense
128
103
122
+24.3%
+4.9%
Pre-tax income
205
354
350
-42.1%
-41.4%
Income tax
168
19.0
53.0
+784.2%
+217.0%
Effective tax rate
82.0%
5.4%
15.1%
Net income
105
283
261
-62.9%
-59.8%
Net margin
2.5%
7.7%
7.2%
Diluted EPS
$0.59
$1.57
$1.45
-62.4%
-59.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q2 FY2025
Q1 FY2025
Q2 FY2024
On the quarter
On the year
Last 8 quarters
Operating cash flow
359
188
323
+91.0%
+11.1%
Capital expenditure
37.0
19.0
28.0
+94.7%
+32.1%
Free cash flow
322
169
295
+90.5%
+9.2%
Free cash flow margin
7.7%
4.6%
8.2%
Cash from investing
-2,865
-100
-177
Cash from financing
2,533
-271
-49.0
Depreciation and amortisation
369
294
272
+25.5%
+35.7%
Share-based compensation
72.0
56.0
59.0
+28.6%
+22.0%
Buybacks
339
244
0.0
+38.9%
Diluted shares, weighted
179m
180m
180m
-0.6%
-0.6%
Shares outstanding at period end
176m
177m
178m
-0.3%
-0.9%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q2 FY2025
Q1 FY2025
Q2 FY2024
On the quarter
On the year
Last 8 quarters
Shareholders' equity
10,215
9,863
9,883
+3.6%
+3.4%
Non-controlling interest
191
173
169
+10.4%
+13.0%
Redeemable equity
2,236
1,737
1,432
+28.7%
+56.1%
Debt
9,952
6,824
6,790
+45.8%
+46.6%
Operating lease liabilities
486
446
374
+9.0%
+29.9%
Other liabilities
6,794
5,782
5,674
+17.5%
+19.7%
Total liabilities and equity
29,874
24,825
24,322
+20.3%
+22.8%
Fixed assets
602
490
480
+22.9%
+25.4%
Goodwill
16,487
13,736
13,679
+20.0%
+20.5%
Intangible assets
7,545
5,456
5,664
+38.3%
+33.2%
Investments
37.0
134
181
-72.4%
-79.6%
Cash and equivalents
1,691
1,537
1,526
+10.0%
+10.8%
Receivables
161
109
75.0
+47.7%
+114.7%
Other assets
3,351
3,363
2,717
-0.4%
+23.3%
Total assets
29,874
24,825
24,322
+20.3%
+22.8%
Questions
What was Flutter Entertainment's revenue in Q2 FY2025?
Flutter Entertainment (FLUT) reported revenue of $4.2 billion for Q2 FY2025, the quarter ended 30 June 2025, up 16.0% on the same quarter a year earlier.
How much did Flutter Entertainment earn in Q2 FY2025?
Net income for Q2 FY2025 was $105 million, down 59.8% on the year, and diluted earnings per share $0.59.
When did Flutter Entertainment report Q2 FY2025 results?
Flutter Entertainment filed its 10-Q for the quarter ended 30 June 2025 with the SEC on 7 August 2025.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 June 2025, filed 7 August 2025: the filing.