LONDON (AP) _ International Game Technology PLC (IGT) on Tuesday reported a second-quarter loss of $289.9 million, after reporting a profit in the same period a year earlier.
The London-based company said it had a loss of $1.43 per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to 15 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The slot machine maker posted revenue of $1.22 billion in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.2 billion.
IGT shares have decreased 25 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 10 percent. The stock has fallen almost 9 percent in the last 12 months.
