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International Game Technology Q2 Earnings Summary; Tightens Annual Sales Outlook - Update

(Adds Outlook, dividend)

Below are the earnings highlights for International Game Technology (IGT):

Earnings: -$4 million in Q2 vs. $306 million in the same period last year.
EPS: -$0.02 in Q2 vs. $1.49 in the same period last year.
Excluding items, International Game Technology reported adjusted earnings of $0.57 per share for the period.

Revenue: $1.02 billion in Q2 vs. $1.04 billion in the same period last year.

Outlook:

International Game Technology tightened its full-year revenue outlook to $4.1 billion - $4.2 billion billion versus its previous view of $4.1 billion - $4.3 billion.

The updated outlook includes impact of currency rates and sale of Italian proximity payments/commercial services business in Q3'22

For the third quarter, the company expects to report revenue of about $1.0 billion - $1.1 billion

dividend:

The board declared a quarterly cash dividend of $0.20 per share payable on August 30 to shareholders of record on August 16.

-Guidance:
Next quarter revenue guidance: $1.0 - $1.1 Bln
Full year revenue guidance: $4.1 - $4.2 Bln

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