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Jun 30, 2024
Light & Wonder Q2 2024 Earnings Report
Light & Wonder's Q2 2024 results showcased strong growth, marking the 13th consecutive quarter of consolidated revenue increase and driven by robust gaming machine sales and expansion in gaming operations.
Key Takeaways
Light & Wonder reported a strong second quarter in 2024, with a 12% increase in consolidated revenue driven by growth across all business segments. Gaming revenue rose by 14%, SciPlay by 8%, and iGaming by 6%. The company's net income increased significantly, and they completed a share repurchase program while announcing a new one.
Consolidated revenue increased by 12% year-over-year, marking the 13th consecutive quarter of growth.
Gaming revenue grew by 14%, driven by global gaming machine sales and gaming operations expansion.
SciPlay revenue increased by 8%, driven by the social casino business.
iGaming revenue grew by 6%, reflecting continued momentum in North America.
Revenue by Segment
Forward Guidance
Light & Wonder continues to see improved earnings quality with consistent growth and healthy margins, all while investing back into the business to scale for the future.
Positive Outlook
- Capitalizing on opportunities underpinned by scale and diversified product offerings.
- Strong progress in the Gaming business with expansion of units in the North American installed base.
- Global presence enables further product refinement and market penetration.
- Continued development of catalog of proven, evergreen franchises.
- Enhanced cash flow generation initiatives.
Challenges Ahead
- Inability to successfully execute strategy.
- Risks relating to foreign operations.
- Impact of new tariffs imposed by the U.S. and foreign jurisdictions.
- U.S. and international economics and industry conditions, including increases in benchmark interest rates and the effects of inflation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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