- International game technology IT reported fiscal 22 third quarter revenue growth of 14% year over year to $1.06 billion (at constant currencies), beat the consensus of $1.01 billion.
- Revenue increased 8% Y/Y on a reported basis.
- Global Lottery revenue was up 4% yoy to $626 million (CC), Global Gaming was up 34% yoy to $379 million (CC) and Digital & Betting was up 34% yoy to 54 Million US Dollars (CC).
- Operating margin shrank 200 basis points to 20% as operating income grew 9% year over year to $211 million (CC).
- Adjusted EPS of $0.43 beat the consensus of $0.31.
- IGT held $401 million in cash and equivalents. It generated $236 million in operating cash flow, up 109% Y/Y.
- Dividend: The board declared a quarterly cash dividend of $0.20 per share.
- Outlook: IGT is targeting the top half of its FY22 revenue guidance of $4.1 billion — $4.2 billion versus consensus of $4.11 billion.
- IGT sees fourth-quarter revenue of $1.0 billion, below consensus of $1.02 billion.
- Price promotion: IGT shares traded up 11.58% to $22.26 on the last check Tuesday.
- Photo via company
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