IGT Reports Strong Q1 2024 Results, Exceeds Revenue Outlook
Tuesday, 14 May 2024, 22:15
Introduction
International Game Technology Plc (NYSE: IGT) hosted its First Quarter 2024 earnings conference call, led by CEO Vince Sadusky and CFO Max Chiara.
Financial Highlights
- Revenue: Revenue up nearly $1.1 billion, better than expected.
- Operating Margin: Operating margin at 24%, exceeding projections by 400 basis points.
- Operating Income: Record operating income of $273 million achieved.
- Full Year Outlook: Upgraded full year 2024 revenue and profit goals based on Q1 performance.
Global Lottery Performance
- Italy Growth: Strong growth in Italy driven by compelling game innovation and strong product sales growth.
- New Game Launches: Successful launches in Italy and other regions contributing to overall growth.
Market Trend Analysis
- Revenue Momentum: Positive revenue momentum expected to continue throughout the year.
- Operational Efficiency: Focus on improving margins and operational performance.
Conclusion
IGT's Q1 2024 results reflect strong performance, exceeding revenue expectations and showcasing operational excellence. The company's upgrade of full year revenue and profit goals demonstrates positive momentum and strategic growth initiatives in global markets.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.