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Scientific Games Q3 loss narrows YOY

Scientific Games Corp. said its third-quarter normalized net income came to a loss of 71 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 82 cents per share.

The per-share loss narrowed 15.4% year over year from 84 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $61.9 million, compared with a loss of $72.1 million in the prior-year period.

The normalized profit margin climbed to negative 9.1% from negative 10.7% in the year-earlier period.

Total revenue grew 7.2% on an annual basis to $720.0 million from $671.6 million, and total operating expenses grew 8.3% year over year to $667.0 million from $615.6 million.

Reported net income came to a loss of $98.9 million, or a loss of $1.13 per share, compared to a loss of $1.08 billion, or a loss of $12.52 per share, in the prior-year period.