Why International Game Technology Popped by 10% Today
Investors who placed bets on gaming equipment and services specialist International Game Technology (NYSE: IGT) were handsomely rewarded on Tuesday. Shares of their company soared nearly 10% higher, on the back of the company's latest quarterly earnings.
International Game absolutely crushed earnings estimates. For its second quarter, the company netted $34 million in profit, down quite some distance from the $365 million it earned the previous year. On a non-GAAP (adjusted) per-share basis, however, the metric was actually considerably higher -- $0.57, against second-quarter 2021's $0.32.
That was more than good enough to top prognosticator projections. On average, analysts tracking the stock were modeling for only $0.33.
Source Fool.com
