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Here's What Key Metrics Tell Us About IGT (IGT) Q2 Earnings

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For the quarter ended June 2023, International Game Technology (IGT - Free Report) reported revenue of $1.06 billion, up 3.3% over the same period last year. EPS came in at $0.45, compared to $0.57 in the year-ago quarter.

The reported revenue represents a surprise of +2.56% over the Zacks Consensus Estimate of $1.03 billion. With the consensus EPS estimate being $0.34, the EPS surprise was +32.35%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how IGT performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Revenue- Global Lottery: $624 million versus the three-analyst average estimate of $610.33 million. The reported number represents a year-over-year change of -3.7%.
  • Revenue- PlayDigital: $59 million versus $54.67 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +37.2% change.
  • Revenue- Global Gaming: $373 million versus $365 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +13% change.
  • Adjusted EBITDA- Global Lottery: $332 million versus the four-analyst average estimate of $315.05 million.
  • Adjusted EBITDA- PlayDigital: $22 million compared to the $17.68 million average estimate based on four analysts.
  • Adjusted EBITDA- Corporate support expense: -$22 million versus the four-analyst average estimate of -$18.35 million.
  • Adjusted EBITDA- Global Gaming: $112 million versus the four-analyst average estimate of $103.60 million.
View all Key Company Metrics for IGT here>>>

Shares of IGT have returned +6.2% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.

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