Why International Game Technology's Shares Popped 23.4% Today
Shares of casinos and lottery supplier International Game Technology (NYSE: IGT) jumped as much as 23.4% in trading Thursday after the company reported third-quarter earnings. At 2:50 p.m. EST, shares were still up 23% and holding gains.
Revenue was up 3% on a constant-currency basis, to $1.15 billion, hitting expectations set by analysts. Adjusted earnings before interested, taxes, depreciation, and amortization (EBITDA) were down 8.2%, to $407.1 million, and earnings per share fell 32%, to $0.21 per share, well below the $0.28 estimate.
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Source Fool.com
