IGT profit turnaround

International Game Technology PLC on Tuesday reported first-quarter net income of US$92 million, after reporting a loss in the same period a year earlier.

The London-based company said it had profit of 44 cents per share. Earnings, adjusted to account for discontinued operations, were 38 cents per share.

The slot machine maker posted revenue of US$1.01 billion in the period, topping Street forecasts. Three analysts surveyed by Zacks expected US$877.4 million.

IGT shares have climbed 3.0 per cent since the beginning of the year, while the S&P’s 500 index has risen 12 per cent. The stock has more than doubled in the last 12 months.