Why PlayAGS Stock Plummeted 52% Today
Shares of PlayAGS (NYSE: AGS) dropped 52% on Thursday after the casino gaming products company announced significantly weaker-than-expected second-quarter results.
More specifically, AGS' quarterly revenue grew 2% year over year, to $74.5 million, translating to a net loss of $7.6 million, or $0.21 per share. Adjusted for one-time items -- specifically a $3.5 million goodwill impairment charge during the quarter related to its real-money gaming business within the interactive segment -- AGS would have incurred a narrower net loss of $0.07 per share.
But even then, these results were far below analysts' expectations for adjusted net income of $0.14 per share on revenue closer to $83 million.
Quelle Fool.com


