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Online Lottery Games Firm Misses Second-Quarter Earnings Target

NeoGames (NGMS), a provider of services to online lottery game operators, late Wednesday missed earnings expectations for the second quarter. NeoGames stock was not active in extended trading.




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The Tel Aviv, Israel-based company earned 10 cents a share on sales of $21.5 million in the June quarter. Analysts had expected NeoGames earnings of 12 cents a share on sales of $18 million, according to FactSet.

In after-hours trading on the stock market today, NeoGames stock was not active. During the regular session Wednesday, NeoGames stock rose 2.3% to 55.96.

Earnings report details to follow.

NeoGames Stock Ranks No. 1 In Group

NeoGames stock ranks first out of 17 stocks in IBD’s video game software industry group, according to IBD Stock Checkup. It has an IBD Composite Rating of 85 out of 99. IBD’s Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.

NeoGames went public in November 2020 with its shares priced at $17 each. NeoGames stock hit an all-time high of 73.54 on June 22.

In addition to providing technologies for national and state-regulated lotteries, NeoGames has a portfolio of online games.

Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.

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