Why Scientific Games Corporation Stock Soared

Image source: Scientific Games.

What: Scientific Games, the technology product and service provider for gaming and lottery industries,saw its shares soar 36% today after the company reported better-than-expected fourth-quarter revenue.

So what: The Las Vegas-based company reported revenue and EPS of $737 million and a loss of $1.48, respectively, for the quarter. While analysts were expecting the Scientific Games' loss per share to be narrower -- at $1.20 -- its revenue was significantly higher than the consensus analyst estimate for about $630 million.

Scientific Games' fourth-quarter revenue highlights the company's significant growth, up 30.2% from the year-ago quarter.

Now what: While Scientific Games doesn't provide guidance, management said in its quarterly press release that its "innovation... is already driving our momentum into 2016."

Management continued:

The article Why Scientific Games Corporation Stock Soared originally appeared on Fool.com.

Daniel Sparks has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.