International Game Technology Stock Falls Despite Q2 EPS Beat; Revenue Misses Estimates
Portfolio Pulse from Nabaparna Bhattacharya
International Game Technology (IGT) reported Q2 earnings per share of 36 cents, beating estimates, but missed revenue expectations with $1.049 billion. Despite strong cash flow and stable EBITDA, shares fell 3.16% due to the revenue miss and the announcement of the sale of its Gaming & Digital business.
July 30, 2024 | 2:46 pm
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International Game Technology (IGT) reported Q2 EPS of 36 cents, beating estimates, but missed revenue expectations with $1.049 billion. Shares fell 3.16% due to the revenue miss and the announcement of the sale of its Gaming & Digital business.
Despite beating EPS estimates, IGT's revenue miss and the announcement of the sale of its Gaming & Digital business led to a 3.16% drop in share price. The market likely reacted negatively to the revenue miss and uncertainty surrounding the business sale.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100