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Compared to Estimates, Light & Wonder (LNWO) Q4 Earnings: A Look at Key Metrics

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For the quarter ended December 2025, Light & Wonder (LNWO - Free Report) reported revenue of $891 million, up 11.8% over the same period last year. EPS came in at $1.96, compared to $1.42 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $915.39 million, representing a surprise of -2.66%. The company delivered an EPS surprise of +28.11%, with the consensus EPS estimate being $1.53.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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: $195 million compared to the $205.7 million average estimate based on two analysts. The reported number represents a change of -4.4% year over year.
  • Revenue- Gaming: $602 million versus $636.65 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +16.9% change.
  • Revenue- iGaming: $94 million versus $87.55 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.5% change.
  • AEBITDA- Gaming: $323 million compared to the $334.25 million average estimate based on two analysts.
  • AEBITDA- Corporate and other: $-34 million versus $-32.5 million estimated by two analysts on average.
  • AEBITDA- iGaming: $36 million compared to the $34.35 million average estimate based on two analysts.
  • AEBITDA- SciPlay: $80 million versus $74.05 million estimated by two analysts on average.

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

Shares of Light & Wonder have returned -12.8% over the past month versus the Zacks S&P 500 composite's -1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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