Light & Wonder Q1 Earnings Beat Estimates on Higher Revenues

Core Insights - Light & Wonder, Inc. reported modest first-quarter 2025 results with adjusted earnings surpassing Zacks Consensus Estimate while revenues missed expectations [1] Financial Performance - Net income for the quarter remained unchanged at $82 million or 94 cents per share compared to $82 million or 88 cents per share in the prior-year quarter, with quarterly earnings beating the Zacks Consensus Estimate by 18 cents [3] - Total revenues for Q1 2025 rose to $774 million from $756 million in the prior-year quarter, marking the 16th consecutive quarter of year-over-year revenue growth, although it missed the consensus estimate of $809 million [4] - Gaming revenues were $495 million, up 4% year over year, while SciPlay generated $202 million in revenues, down 2% year over year [5] - iGaming revenues increased 4% year over year to $77 million, driven by strong demand in North America and global market growth [6] Operational Efficiency - Non-GAAP consolidated AEBITDA improved to $311 million from $281 million in the year-ago quarter, with AEBITDA margin increasing to 40% from 37% [7] Cash Flow and Liquidity - The company generated a cash flow of $185 million from operating activities in Q1 2025, compared to $171 million in the prior-year quarter, with $134 million in cash and cash equivalents and $3.88 billion of long-term debt as of March 31, 2025 [8]