UPDATE: International Game FQ3 Profit Declines 33%
International Game Technology (NYSE: IGT) reported a 33% drop in its fiscal first-quarter earnings.
International Game's quarterly profit dropped to $49.3 million, or $0.16 per share, from $73.7 million, or $0.25 per share, in the year-ago period. Its revenue dropped 1.3% to $445.5 million. However, analysts were expecting earnings of $0.22 per share on revenue of $485 million.
International Game's gross margin dropped to 22.4% versus 26.6%.
International Game shares fell 8.87% to $14.70 in pre-market trading.
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