Flutter Entertainment lowered its profit outlook and swung to a loss in the second quarter, as its U.S. business faces customer churn and lower betting sales.

The parent company of FanDuel on Wednesday said it swung to a quarterly loss of $296 million, or $1.57 a share, from a profit of $37 million, or 59 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 49 cents, below the 54 cents anticipated by analysts, according to FactSet.

Revenue rose 3% to $4.33 billion. Analysts surveyed by FactSet forecast revenue of $4.23 billion. The number of average monthly players dropped 11%.

Sales from Flutter's U.S. business declined 6%, primarily due to a 15% drop in sportsbook revenue. Sports results that didn't favor the house weighed on results, the company said.

U.S. market growth was subdued during the first half of the year as Flutter continued to see a long sequence of customer-losing weeks and high levels of customer churn, the company said.

International revenue rose 10%. Flutter said it had good engagement across its business during the World Cup, especially during the tournament's knockout stages.

Flutter lowered its full-year guidance for annual group revenue to $17.91 billion at the midpoint, down from $18.31 billion. The company cited its second-quarter results, the impact of NFL schedule changes and investments as some contributing elements of the new outlook.

Separately, Flutter said it named Dan Taylor as its new chief executive, effective Oct. 1. He is succeeding Peter Jackson.

Shares fell 4% to $101 pre-market.