FX.co ★ International Game Technology Q1 Profit Increases, Beats Estimates

International Game Technology (IGT) has reported a significant increase in its first-quarter profits compared to the same period last year, surpassing Wall Street expectations.

The company's net income reached $82 million, or $0.40 per share, up from $23 million, or $0.11 per share, in the first quarter of the previous year.

After factoring out special items, IGT posted adjusted earnings of $0.46 per share for the quarter.

According to data from Thomson Reuters, analysts had, on average, anticipated earnings of $0.23 per share, excluding special items.

Revenue for the quarter experienced a slight climb, rising 0.9% to $1.07 billion from last year's $1.06 billion.

Here is an overview of International Game Technology's earnings (GAAP):

- **Earnings (Q1):** $82 million, up from $23 million last year

- **EPS (Q1):** $0.40, compared to $0.11 last year

- **Revenue (Q1):** $1.07 billion, up from $1.06 billion last year

**Guidance:**

- Next quarter revenue: $1.05 billion

- Full-year revenue: $4.4 billion