Why International Game Technology Stock Fell 16.8% on Tuesday

Shares of gambling industry supplier International Game Technology (NYSE: IGT) fell as much as 16.8% in trading on Tuesday after the company reported fourth-quarter 2021 financial results. Shares finished the day down 13.8%.

Revenue for the quarter was up 19% to $1.05 billion, as the gambling industry overall recovered from the pandemic. The company swung from a loss of $242 million a year ago to a net income of $19 million, or $0.09 per share, but analysts were expecting $0.39 per share in earnings.

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Source Fool.com