IGT: 2Q Earnings Snapshot
LONDON (AP) _ International Game Technology PLC (IGT) on Thursday reported second-quarter profit of $4.9 million.
On a per-share basis, the London-based company said it had net income of 2 cents. Earnings, adjusted for non-recurring costs, were 44 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.
The slot machine maker posted revenue of $1.23 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.17 billion.
IGT shares have dropped 8.5% since the beginning of the year, while the Standard & Poor’s 500 index has increased 19%. The stock has dropped 47% in the last 12 months.