Motley Fool
0
All posts from Motley Fool
Motley Fool in Motley Fool,

Why Scientific Games Corp. Stock Soared on Monday

What happened

Shares of casino and lottery gaming company Scientific Games (NASDAQ: SGMS) jumped as much as 24.5% on Monday after it reported its second-quarter financial results. The stock was up 24.2% at the time of this writing.

So what

Scientific Games reported Q2 revenue of $766.3 million and a loss per share of $0.44. Both metrics were better than analysts were expecting. On average, analysts had forecast revenue of $733 million and a loss per share of $0.52. 

Scientific Games' TwinStar 3RM interactive gaming. Image source: Scientific Games.

Importantly, with its Q2 revenue increase of 5% year over year, Scientific Games has now posted seven quarters in a row of revenue growth. Last quarter, that was driven by gains in global gaming machine sales, gaming systems, table products, and interactive gaming, management said.

Now what

Going forward, Scientific Games CEO Kevin Sheehan said the company has "many opportunities" it intends to capitalize on. And CFO Michael Quartieri said it will continue to improve its capital structure and lower its cost of capital.

10 stocks we like better than Scientific Games
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Scientific Games wasn't one of them! That's right -- they think these 10 stocks are even better buys.

Click here to learn about these picks!

*Stock Advisor returns as of July 6, 2017

Daniel Sparks has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.