Light & Wonder Inc. ( (LNW) ) has released its Q3 earnings. Here is a breakdown of the information Light & Wonder Inc. presented to its investors.
Light & Wonder, Inc. is a leading cross-platform global games company that provides innovative gaming technology solutions, with a focus on creating immersive content across its three business segments: Gaming, SciPlay, and iGaming. The company is headquartered in Las Vegas and is known for its strong portfolio of game franchises.
In its third quarter of 2024 earnings report, Light & Wonder reported a 12% increase in consolidated revenue year-over-year, showcasing continued strong performance across all its business segments. This marks the company’s 14th consecutive quarter of revenue growth, demonstrating its robust market presence.
The financial highlights include a 15% increase in Gaming revenue, driven by a 38% rise in global Gaming machine sales, and a 5% growth in SciPlay revenue, bolstered by the social casino business. Additionally, iGaming revenue increased by 6%, underscoring growth momentum in North America. Despite a decrease in net income to $64 million due to higher restructuring costs, the company achieved a consolidated AEBITDA of $319 million, reflecting a 12% growth compared to the previous year.
Looking ahead, Light & Wonder remains committed to its strategic roadmap with a focus on innovative content and product development. The company aims to achieve a $1.4 billion Consolidated AEBITDA target for fiscal year 2025, emphasizing continued investment in R&D and capital expenditures to drive shareholder value.
