Flutter shares plummet on earnings miss and another key leadership change - cnbc.com — SkimNews
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- Flutter reported an earnings miss and announced its CEO is stepping down, sending shares plummeting in what CNBC called "another key leadership change."
- FanDuel betting growth slowed and the U.S. sports-betting business faltered, prompting Flutter to cut its profit outlook, per the Financial Times.
Why it matters: This is the second major CEO departure in a short window, per CNBC's wording, and it comes alongside a guidance cut — meaning the two pillars of Flutter's investment thesis (FanDuel top-line growth and U.S. profitability) are deteriorating at the same time.
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