Shares of Light & Wonder Inc. (LNW) plummeted 7.08% in early trading on Thursday, following the release of its first-quarter results that fell short of analyst expectations. The gaming technology company's disappointing performance has led to a significant sell-off, making it one of the top losers in the market.

According to the quarterly report, Light & Wonder posted revenue of $774 million, which missed Citi's estimates of $809 million. The company's adjusted EBITDA came in at $311 million, also falling short of Citi's projected $316 million. This underperformance in both top and bottom lines has clearly rattled investors, leading to the sharp decline in stock price.

Despite the negative reaction to the Q1 results, it's worth noting that Light & Wonder has reaffirmed its guidance for the full year 2025. The company maintains its target of achieving a consolidated AEBITDA of $1.4 billion for FY 2025, which may provide some reassurance to long-term investors. However, the immediate market response reflects concerns about the company's ability to meet short-term expectations in a challenging economic environment. As the trading session progresses, investors will be closely watching for any further developments or analyst reactions to the company's performance.