International Game Technology Expects Q4 Revenue of $1.1B Vs. $1.09B Est, FY23 Revenue of $4.3B (Prior $4.2B-$4.3B) Vs. $4.25B Est
Portfolio Pulse from Benzinga Newsdesk
International Game Technology (IGT) has updated its Q4 and FY23 revenue expectations. The company now expects Q4 revenue of $1.1B, slightly above the estimated $1.09B, and FY23 revenue of $4.3B, at the upper end of the previous range. Q4 revenue includes increased Global Lottery revenue and consistent Global Gaming and PlayDigital revenue. FY23 expectations include an operating income margin of ~23% and capital expenditures of $400M-$450M.
October 31, 2023 | 10:46 am
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IGT's updated revenue expectations for Q4 and FY23 are slightly above estimates, which could positively impact the company's stock in the short term.
IGT's updated revenue expectations are slightly above estimates, which is generally seen as a positive signal by investors. This could lead to increased demand for the company's stock, potentially driving its price up in the short term.
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