Brightstar Lottery Cuts Revenue Outlook After Third-Quarter Drop

Revenue in the quarter compared with $629 million a year earlier. Brightstar said lower same-store sales, primarily because of multi-state jackpot performance in the U.S., weighed on results.

Quarterly earnings fell to $45 million, or 12 cents a share, from $95 million, or 29 cents a share, a year earlier. Analysts had expected earnings of $22.3 million, or four cents a share. Adjusted earnings were 10 cents a share, ahead of the nine cents analysts had forecast.

Brightstar lowered its full-year revenue guidance to $2.435 billion to $2.455 billion, from a previous range of $2.5 billion to $2.55 billion. Analysts are looking for annual revenue of $2.482 billion. The shares were down 44% over the past 12 months.