Paddy Power owner beats profit expectations

Company is benefiting from a surge in new customers and revenue

Paddy Power-owner Flutter Entertainment Plc reported second-quarter sales and profit that beat analysts’ expectations. Picture: Denis Minihane

Paddy Power-owner Flutter Entertainment Plc reported second-quarter sales and profit that beat analysts’ expectations.

The company, which recently moved its stock listing to the New York Stock Exchange from London, generated revenue of $3.61bn (€3.3bn) in the quarter, exceeding estimates of $3.37bn (€3.1bn). Adjusted earnings rose to $2.61 a share, exceeding expectations.