International Game Technology PLC (IGT) shares tumbled 5.65% in pre-market trading on Tuesday following the release of disappointing first-quarter results and lowered full-year guidance. The gaming technology company reported earnings that fell short of analyst expectations and reduced its revenue forecast for the year, citing macroeconomic challenges.
IGT posted adjusted earnings of $0.09 per share for Q1 2025, missing the analyst consensus estimate of $0.11 and marking a significant 67.86% decrease from $0.28 per share in the same period last year. The company's quarterly revenue also disappointed, coming in at $583 million, well below the expected $627.84 million and representing an 11.80% year-over-year decline.
In response to the current macroeconomic environment, IGT lowered its full-year 2025 revenue guidance to approximately $2.55 billion, down from its previous forecast of $2.55 billion to $2.65 billion. This adjustment falls slightly below the FactSet consensus estimate of $2.57 billion. Despite the challenges, the company maintained its quarterly cash dividend of $0.20 per common share, payable on June 12 to shareholders of record as of May 29.
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