Flutter Entertainment (FLUT) Q2 FY2026 earnings: revenue $4.3 billion, up 3.3% on the year

Flutter Entertainment plc (FLUT) reported revenue of $4.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 3.3% on the same quarter a year earlier. Net income was -$274 million, and diluted earnings per share $-1.57. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue

$4.3 billion

+3.3% on the year · +0.5% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

-3.3%

9.3% a year earlier

Q3 FY2024Q2 FY2026

Net income

-$274 million

Q3 FY2024Q2 FY2026

Diluted EPS

-$1.57

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 raised, 7 lowered, 4 new, 6 kept.

Group revenue rose 3%: Group revenue was $4,326m, up 3% year-over-year, with iGaming up 9% and sportsbook down 1%. Growth was helped by acquisitions and World Cup engagement.
Net loss widened to $296m: Net loss was $296m against $37m net income a year earlier, after lower segment profit, tax provisions and higher interest and amortization costs.
Adjusted EBITDA fell 45%: Group adjusted EBITDA was $508m, with margin at 11.7% against 21.9%, reflecting lower US and International segment profit.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	4,326	4,304	4,187	+0.5%	+3.3%
Cost of revenue	2,613	2,467	2,228	+5.9%	+17.3%
Gross profit	1,713	1,837	1,959	-6.8%	-12.6%
Gross margin	39.6%	42.7%	46.8%
Research and development	300	259	256	+15.8%	+17.2%
Operating income	-144	79.0	389
Operating margin	-3.3%	1.8%	9.3%
Interest expense	171	164	128	+4.3%	+33.6%
Pre-tax income	-299	234	205
Income tax	-3.0	25.0	168
Effective tax rate	n/a	10.7%	82.0%
Net income	-274	218	105
Net margin	-6.3%	5.1%	2.5%
Diluted EPS	-$1.57	$1.23	$0.59

$ million except per share.

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. 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 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	363	330	359	+10.0%	+1.1%
Capital expenditure	14.0	25.0	37.0	-44.0%	-62.2%
Free cash flow	349	305	322	+14.4%	+8.4%
Free cash flow margin	8.1%	7.1%	7.7%
Cash from investing	-170	-172	-2,865
Cash from financing	-55.0	-458	2,533
Depreciation and amortisation	399	416	369	-4.1%	+8.1%
Share-based compensation	68.0	53.0	72.0	+28.3%	-5.6%
Buybacks	129	135	339	-4.4%	-61.9%
Diluted shares, weighted	175m	177m	179m	-1.1%	-2.2%
Shares outstanding at period end	174m	174m	176m	-0.2%	-1.5%

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 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	8,750	9,064	10,215	-3.5%	-14.3%
Non-controlling interest	228	228	191	0.0%	+19.4%
Redeemable equity	377	417	2,236	-9.6%	-83.1%
Debt	11,978	11,965	9,952	+0.1%	+20.4%
Operating lease liabilities	428	442	486	-3.2%	-11.9%
Other liabilities	6,449	6,358	6,794	+1.4%	-5.1%
Total liabilities and equity	28,210	28,474	29,874	-0.9%	-5.6%
Fixed assets	575	597	602	-3.7%	-4.5%
Goodwill	15,622	15,649	16,487	-0.2%	-5.2%
Intangible assets	6,480	6,714	7,545	-3.5%	-14.1%
Investments	11.0	29.0	37.0	-62.1%	-70.3%
Cash and equivalents	1,563	1,512	1,691	+3.4%	-7.6%
Receivables	130	155	161	-16.1%	-19.3%
Other assets	3,829	3,818	3,351	+0.3%	+14.3%
Total assets	28,210	28,474	29,874	-0.9%	-5.6%

Questions

What was Flutter Entertainment's revenue in Q2 FY2026?

Flutter Entertainment (FLUT) reported revenue of $4.3 billion for Q2 FY2026, the quarter ended 30 June 2026, up 3.3% on the same quarter a year earlier.

How much did Flutter Entertainment earn in Q2 FY2026?

Net loss for Q2 FY2026 was $274 million, and the diluted loss per share $1.57.

When did Flutter Entertainment report Q2 FY2026 results?

Flutter Entertainment filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 5 August 2026.

Quarterly results, the last 15 quarters

	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,918	3,001	2,558	3,313	3,397	3,611	3,248	3,792	3,665	4,187	3,794	4,737	4,304	4,326	3,874
Cost of revenue	1,541	1,491	1,386	1,784	1,793	1,835	1,752	1,966	1,956	2,228	2,168	2,627	2,467	2,613	2,356
Gross profit	1,377	1,510	1,172	1,529	1,604	1,776	1,496	1,826	1,709	1,959	1,626	2,110	1,837	1,713	1,518
Gross margin	47%	50%	46%	46%	47%	49%	46%	48%	47%	47%	43%	45%	43%	40%	39%
R&D	168	176	214	207	190	216	213	201	215	256	275	245	259	300	350
Operating income	-15.0	222	-137	-619	124	369	97.0	279	223	389	-834	258	79.0	-144	-1,191
Operating margin	-1%	7%	-5%	-19%	4%	10%	3%	7%	6%	9%	-22%	5%	2%	-3%	-31%
Interest expense	n/a	98.0	101	n/a	126	122	123	109	103	128	167	178	164	171	169
Pre-tax income	-152	150	-273	-816	-162	350	-130	-42.0	354	205	-834	154	234	-299	-1,243
Tax rate	n/a	57%	n/a	n/a	n/a	15%	n/a	n/a	5%	82%	n/a	94%	11%	n/a	n/a
Net income	-111	67.0	-275	-912	-177	261	-103	81.0	283	105	-690	-8.0	218	-274	-862
Net margin	-4%	2%	-11%	-28%	-5%	7%	-3%	2%	8%	3%	-18%	-0%	5%	-6%	-22%
Diluted EPS	-$0.58	$0.37	-$1.55	-$5.13	-$1.10	$1.45	-$0.58	$0.45	$1.57	$0.59	-$3.91	-$0.05	$1.23	-$1.57	-$4.90
Operating cash flow	-49.0	41.0	554	391	337	323	290	652	188	359	209	428	330	363	211
Capital expenditure	18.0	31.0	21.0	89.0	22.0	28.0	37.0	57.0	19.0	37.0	13.0	36.0	25.0	14.0	20.0
Free cash flow	-67.0	10.0	533	302	315	295	253	595	169	322	196	392	305	349	191
Buybacks	n/a	n/a	46.0	n/a	0.0	0.0	0.0	219	244	339	261	279	135	129	0.0
Shares outstanding	178m	178m	178m	177m	178m	178m	178m	177m	177m	176m	175m	175m	174m	174m	174m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* 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 2026, filed 5 August 2026: the filing.