Scientific Games reported revenue of $658.7 million for the first quarter, a 69.7% increase from the year-ago quarter, but below analysts' estimates of $715.1 million. The company reported a loss of $1.01 a share for the quarter, above analysts' estimates of a loss of $1.26 a share for the quarter.
Gaming systems revenue grew to $67 million in the quarter from $63.9 million in the year-ago quarter. Table products revenue grew to $38.1 million in the first quarter due to the inclusion of Bally, which Scientific Games recently acquired.
About 2 million shares of Scientific Games were traded by 11:05 a.m. Friday, above the company's average trading volume of about 1.1 million shares a day.
Separately, TheStreet Ratings team rates SCIENTIFIC GAMES CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SCIENTIFIC GAMES CORP (SGMS) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally high debt management risk."