IGT beats analyst consensus on 3Q results

ASSOCIATED PRESS

NEW YORK (AP) — International Game Technology’s stock rose 4 percent on Wednesday, a day after the casino equipment supplier reported better third-quarter performance than Wall Street analysts forecast and the company raised its full-year earnings outlook.

IGT reported Tuesday that its earnings declined 6 percent to $86.9 million, or 29 cents per share, compared with $92.1 million, or 31 cents per share, a year ago. Adjusted earnings were 26 cents per share.

Revenue climbed 3 percent to $489 million from $474.9 million.

The company said its earnings included a one-time benefit of 4 cents per share from tax items.

Analysts surveyed by FactSet expected adjusted earnings of 22 cents per share on revenue of $488.9 million.

IGT also increased its full-year earnings forecast to a range of 89 cents to 93 cents per share. Its previous outlook was for earnings between 84 cents and 90 cents per share.

RelatedPosts

IGT reports second highest quarter for product sales in its in 4Q24, releases 2025 guidance

Wed 26 Feb 2025 at 04:22

AGEM Index enjoys third highest monthly growth of all time in November, led by Aristocrat

Thu 5 Dec 2024 at 04:30

IAG announces IDX, Light & Wonder, Aristocrat, APE and IGT as sponsors of Macau After Dark at Palace Reserve Club at Wynn Palace

Sat 23 Nov 2024 at 08:49

First hurdle cleared as mandatory waiting period for Apollo’s acquisition of IGT Gaming and Everi expires

Fri 22 Nov 2024 at 04:36

Load More