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International Game Technology profit misses consensus by 93.9% in Q3

International Game Technology PLC said its normalized net income for the third quarter amounted to 3 cents per share, compared with the S&P Capital IQ consensus estimate of 44 cents per share.

EPS decreased 73.6% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $5.5 million, a decline of 73.5% from $20.6 million in the prior-year period.

The normalized profit margin declined to 0.4% from 1.7% in the year-earlier period.

Total revenue grew 5.3% year over year to $1.27 billion from $1.20 billion, and total operating expenses climbed from the prior-year period to $1.09 billion from $1.06 billion.

Reported net income came to a loss of $2.0 million, or a loss of 1 cents per share, compared to income of $8.0 million, or 4 cents per share, in the year-earlier period.