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.
