Light & Wonder Q4 Earnings Beat Estimates, Top Line Rises Y/Y

Core Insights - Light & Wonder (LNW) reported strong fourth-quarter 2024 results, with both revenue and net income exceeding expectations, showcasing the company's robust portfolio and business model [1][2][3] Financial Performance - Net income for Q4 2024 was $107 million or$1.2 per share, up from $66 million or 73 cents per share in Q4 2023, driven by revenue growth and asset sales [2] - Total revenues in Q4 2024 reached$797 million, an increase from $770 million in the prior-year quarter, surpassing the consensus estimate of$795 million [3] - For the full year 2024, LNW reported total revenues of $3.2 billion, up from$2.9 billion in 2023 [3] Revenue Breakdown - Services revenues increased to $532 million from$515 million year-over-year, while product sales rose to $265 million from$255 million [4] - Gaming revenues were $515 million, reflecting a 4$204 million, with a 6% increase in average revenue per daily active user [5] - iGaming revenues grew to $78 million, an 11$315 million, up from $302 million year-over-year, with an AEBITDA margin remaining flat at 39$632 million, compared to $590 million in 2023, with Q4 generating$202 million [7] Liquidity Position - As of December 31, 2024, LNW had $196 million in cash and cash equivalents, with long-term debt totaling$3.84 billion [7]