It follows up on a Q1 where analysts expected earnings of $0.45 per share (and it actually produced earnings of $0.29) - and marks four consecutive quarters of missed EPS estimates. PENN also announced earnings of 15 cents a share, well below analysts' estimates of 50 cents a share. Still, net income for Q2 a year ago was $198.7 million - and this year it was just $26.1 million (an 87% decrease). The company, which operates Barstool Sportsbook and theScore Bet, announced that the Q2 overall revenue is up 5.2% year-over-year ($1.63 billion to $1.55 billion), with an adjusted EBITDA of $476.5 million (up 1.4% from Q2 2021). 'Our new name maintains ties to our legacy while better reflecting our evolution into North America's leading provider of integrated entertainment, sports content, and casino gaming experiences.' 'Today is an exciting day for us as we become PENN Entertainment, Inc.,' Jay Snowden, Chief Executive Officer and President, said via a press release. The perhaps more significant news, however, is that company also announced that it has officially changed its name to PENN Entertainment. reported its second-quarter results on Thursday as the company saw mixed financial news, with legal sports betting revenue up but earnings down.
