IGT: 4Q Earnings Snapshot

Associated Press
Updated ·1 min read

LONDON (AP) _ International Game Technology PLC (IGT) on Tuesday reported a loss of $242 million in its fourth quarter.

The London-based company said it had a loss of $1.18 per share. Losses, adjusted for one-time gains and costs, came to 49 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The slot machine maker posted revenue of $885.1 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $976.4 million.

For the year, the company reported that its loss widened to $897.9 million, or $4.39 per share. Revenue was reported as $3.12 billion.

IGT shares have risen 11% since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 4%. The stock has climbed 67% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IGT at https://www.zacks.com/ap/IGT