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Compared to Estimates, Light & Wonder (LNW) Q3 Earnings: A Look at Key Metrics

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For the quarter ended September 2025, Light & Wonder (LNW - Free Report) reported revenue of $841 million, up 2.9% over the same period last year. EPS came in at $1.81, compared to $1.34 in the year-ago quarter.

The reported revenue represents a surprise of -2.51% over the Zacks Consensus Estimate of $862.63 million. With the consensus EPS estimate being $1.42, the EPS surprise was +27.46%.

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 Light & Wonder performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Revenue- SciPlay: $197 million compared to the $217.55 million average estimate based on three analysts. The reported number represents a change of -4.4% year over year.
  • Revenue- Gaming: $558 million compared to the $579.62 million average estimate based on three analysts. The reported number represents a change of +3.9% year over year.
  • Revenue- iGaming: $86 million compared to the $82.5 million average estimate based on three analysts. The reported number represents a change of +16.2% year over year.
  • AEBITDA- Gaming: $305 million versus $304.69 million estimated by three analysts on average.
  • AEBITDA- Corporate and other: $-35 million versus $-36.25 million estimated by three analysts on average.
  • AEBITDA- iGaming: $34 million versus the three-analyst average estimate of $28.1 million.
  • AEBITDA- SciPlay: $71 million versus $72.58 million estimated by three analysts on average.

View all Key Company Metrics for Light & Wonder here>>>

Shares of Light & Wonder have returned -8.3% over the past month versus the Zacks S&P 500 composite's +1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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