Sports betting and iGaming giant Flutter Entertainment PLC (NYSE:FLUT) reported first-quarter financial results Wednesday after market close.

Here are the key highlights.

Flutter Q1 Financials

Flutter reported first-quarter revenue of $4.30 billion, up 17% year-over-year. The revenue total beat a Street consensus estimate of $4.29 billion, according to data from Benzinga Pro.

U.S. revenue was $1.76 billion in the quarter, up 6% year-over-year, with sportsbook growth of 1% and iGaming growth of 19%.

International revenue was $2.54 billion in the quarter, up 27% year-over-year, with sportsbook growth of 22% and iGaming growth of 32%. The company said the segment was boosted by M&A.

The company reported first-quarter earnings per share of $1.22, beating a Street consensus estimate of $1.20.

Flutter had 14.38 million average monthly players in the quarter, down 3% year-over-year.

Flutter's FanDuel ended the quarter as the number one sportsbook and iGaming platform in the United States, with market shares of 39% and 27%, respectively.

What's Next for Flutter

The company is updating its full-year guidance. Flutter expects total revenue to be in a range of $17.66 billion to $18.96 billion for the full year, down slightly from prior guidance.

The company is guiding for U.S. revenue to be in a range of $7.40 to $8.20 billion, down slightly from previous guidance. International revenue is expected to be in a range of $10.26 billion to $10.76 billion, down slightly from previous guidance.

Flutter cites unfavorable sports results and the early Arkansas state launch as items that impacted U.S. guidance.

The company cited a strong pipeline of enhancements for the U.S. segment and upcoming sporting events like the World Cup and NFL season that could boost performance.

The company's FanDuel Predicts first-quarter revenue was "not material" and no guidance for this segment is factored into the full year projections. Flutter said it was happy with the prediction markets rollout and it is making good progress.

"The core fundamentals of our business remain strong, and I am confident that we have the right strategy, structure and global portfolio of local hero brands to capitalize on the significant long-term growth opportunity ahead," Flutter CEO Peter Jackson said.

Flutter Entertainment Stock Price Action

Flutter stock is up 2.4% to $101.50 in after-hours trading Wednesday versus a 52-week trading range of $97.95 to $313.68.

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