Scientific Games (NASDAQ:$SGMS), a company that makes products for gambling and lottery companies and games, saw its stock rise as high as about 22% during the afternoon of July 24. The rise was largely due to its second quarter reports beating average analyst expectations. Despite reporting a net loss of $39.1 million, or about a loss of $0.44 per share, Scientific Games posted a revenue of $766.3 million. According to FactSet surveys, analysts were expecting a loss of $0.41 per share and a revenue of $748.6 million. So while Scientific Games saw a higher loss, it also saw a higher revenue when compared to analyst expectations.
Both the company’s net loss and revenue were an improvement from a year-earlier period, where the company posted a loss of $51.7 million, or a loss of $0.59 per share, and a revenue of $729.2 million.
For the last three months, Scientific Games’ stock has seen a 50% rise. Year-to-date, the company has seen a 137% rise. This is quite an impressive rise when compared to the S&P 500’s (INDEXSP:$.INC) 4% gain in the last three months and 10% gain year-to-date.
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