Everi Holdings Slips After Cutting Annual Profit Outlook; Q3 Earnings Missed View

(RTTNews) - Shares of Everi Holdings Inc. (EVRI) are falling more than 8% Tuesday morning after the company's third-quarter earnings missed analysts' view. The company also cut its full-year profit outlook.

Everi Holdings provides entertainment and technology solutions for the casino and digital gaming industries.

Net income in the third quarter increased to $29.4 million, or $0.30 per share, from $6.7 million, or $0.07 per share, last year, but missed the average estimate of analysts polled by Thomson-Reuters of $0.34 per share.

Revenues grew 21% to $204.3 million from $168.3 million in the year-ago quarter. The consensus estimate stood at $194.89 million.

Looking forward, the company now sees full-year profit in the range of $112 million-$117 million, lower than the prior outlook of $125 million-$132 million.

EVRI is at $17.44 currently. It has traded in the range of $15.05-$24.98 in the last 1 year.