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Scientific Games Q2 loss widens YOY

Scientific Games Corp. said its second-quarter normalized net income amounted to a loss of 87 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 94 cents per share.

The per-share loss grew year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $75.1 million, compared with a loss of $23.1 million in the year-earlier period.

The normalized profit margin fell to negative 10.9% from negative 5.5% in the year-earlier period.

Total revenue grew 65.9% on an annual basis to $691.5 million from $416.9 million, and total operating expenses rose 57.7% year over year to $644.2 million from $408.4 million.

Reported net income totaled a loss of $102.2 million, or a loss of $1.19 per share, compared to a loss of $72.6 million, or a loss of 86 cents per share, in the year-earlier period.