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NEW YORK - International Game Technology PLC (NYSE:IGT) reported first quarter earnings that fell short of analyst expectations on Tuesday, as lower U.S. multi-state jackpot activity and product sales timing impacted results. The company also lowered its full-year revenue and profit guidance.
IGT shares edged up 0.61% in pre-market trading following the earnings release.
IGT posted adjusted earnings per share of $0.09 for Q1, missing the analyst consensus estimate of $0.27. Revenue came in at $583 million, below expectations of $636.61 million and down 12% year-over-year.
The company cited lower U.S. multi-state jackpot activity and associated LMA impacts, as well as product sales timing, as key factors impacting the year-over-year comparisons. Global same-store sales for instant tickets and draw games rose 1.4% when normalized for calendar effects.
"Global sales of instant ticket and draw games continue to expand, driven by a steady pipeline of game innovation and portfolio optimization strategies," said CEO Vince Sadusky.
For the full year 2025, IGT now expects revenue of approximately $2.55 billion, down from its previous outlook and below the $2.573 billion analyst consensus. The company said it’s likely to be at the low end of its original guidance ranges provided in February due to lower jackpot activity and a worsening macroeconomic environment.
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