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Why International Game Technology's Stock Popped 15% Today

TheMotleyFool

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Why International Game Technology's Stock Popped 15% TodayPhoto, wide shot, wide-angle lens, Restaurant, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/6d1f34ee-79e7-4628-b30f-0a4597808d61.png

Why International Game Technology's Stock Popped 15% Today

Shares of lottery and casino industry supplier International Game Technology (NYSE: IGT) jumped as much as 15.3% in trading Tuesday after reporting third-quarter earnings. At 10:45 a.m. EST shares were still up 13.8% on the day.

Revenue fell 4% in the third quarter to $1.22 billion and operating loss exploded to $556 million, or $3.95 per share. The loss was driven by a $714 million charge to writedown the Gaming and Interactive unit to fair value. Adjusting for that loss, earnings were $0.40 per share.

Image source: Getty Images.

Source: Fool.com