Light & Wonder, Inc. (LNW), a games company, reported lower first-quarter earnings despite revenue growth, mainly due to higher operating expenses and interest costs.
Net income before income taxes decreased to $62 million from $105 million previously.
Operating income fell to $130 million from $170 million in the prior-year quarter, reflecting increased selling, general and administrative expenses, restructuring costs, and higher depreciation and amortization charges.
Net income declined to $52 million, or $0.66 per share, from $82 million, or $0.94 per share, a year earlier.
Revenue increased 2% to $790 million from $774 million, driven by higher services revenue, which rose to $595 million from $527 million. Product revenue, however, declined to $195 million from $247 million.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.