Why International Game Technology Stock Popped Today
Shares of International Game Technology (NYSE: IGT) have popped today, up by 11% as of 11:30 a.m. EDT, after the company reported first-quarter earnings. The results handily beat the market's expectations, thanks in part to cost savings.
Revenue in the first quarter was $1.01 billion, well above the consensus estimate of $0.87 billion in sales. That resulted in net income of $92 million, or $0.38 per share. Wall Street analysts were modeling for a net loss per share of $0.01. The gambling technology company also completed the sale of its Italy B2C gaming business.
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Source Fool.com
