International Game Technology Expects Q3 Revenue Of $1.0B Vs $1.04B Est, FY23 Revenue Of $4.2B-$4.3B (Prior $4.1B-$4.3B) Vs $4.23B Est
Portfolio Pulse from Benzinga Newsdesk
International Game Technology (IGT) has projected its Q3 revenue to be $1.0B, slightly below the estimated $1.04B. However, the company has raised its FY23 revenue forecast to $4.2B-$4.3B, up from the previous range of $4.1B-$4.3B, against an estimate of $4.23B.
August 01, 2023 | 10:49 am
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NEUTRAL IMPACT
IGT's Q3 revenue projection is slightly below estimates, which may negatively impact its short-term stock price. However, the raised FY23 revenue forecast could offset this impact.
IGT's lower-than-expected Q3 revenue projection may disappoint investors, potentially leading to a short-term drop in its stock price. However, the company's raised FY23 revenue forecast could signal strong future performance, which may help to mitigate any negative impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100