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Scientific Games Q2 loss narrows YOY

Scientific Games Corp. said its second-quarter normalized net income amounted to a loss of 71 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 70 cents per share.

The per-share loss narrowed 18.2% year over year from 87 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $62.4 million, compared with a loss of $75.1 million in the year-earlier period.

The normalized profit margin climbed to negative 8.6% from negative 10.9% in the year-earlier period.

Total revenue climbed 5.5% on an annual basis to $729.2 million from $691.5 million, and total operating expenses climbed from the prior-year period to $673.4 million from $644.2 million.

Reported net income totaled a loss of $51.5 million, or a loss of 59 cents per share, compared to a loss of $102.2 million, or a loss of $1.19 per share, in the year-earlier period.