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Did Light & Wonder Beat Earnings?
Light & Wonder (LNW) reported Q3 '25 revenue of $841M, up 2.9% year-over-year, with reported EPS of $1.34. That came in 3.6% below the $1.39 analyst estimate — an earnings miss.
AltIndex tracks earnings alongside 25+ alternative data signals that can move ahead of the report — Light & Wonder’s job postings, web traffic, and employee business outlook. See the full LNW stock analysis or the earnings calendar for upcoming reports.
LNW Earnings Surprise History (EPS vs. Estimate)
| Quarter | Estimated EPS | Reported EPS | Surprise |
|---|---|---|---|
| Q3 '25 | $1.39 | $1.34 | Missed -3.6% |
| Q2 '25 | $1.36 | $1.58 | Beat +16.2% |
| Q1 '25 | $1.13 | $0.94 | Missed -16.7% |
| Q4 '24 | $0.95 | $1.20 | Beat +26.4% |
| Q3 '24 | $1.08 | $0.71 | Missed -34.3% |
| Q2 '24 | $1.03 | $0.90 | Missed -12.6% |
Light & Wonder Quarterly Financial Trends
| Metric | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 771M | 756M | 818M | 817M | 797M | 774M | 809M | 841M |
| Gross margin | 58.5% | 59.7% | 71.1% | 69.9% | 71.0% | 72.7% | 72.9% | 0.0% |
| Operating margin | 23.6% | 22.6% | 25.6% | 19.5% | 21.1% | 22.0% | 25.0% | 27.2% |
| Net income | 67M | 82M | 82M | 64M | 108M | 82M | 95M | 114M |
| Net margin | 8.7% | 10.8% | 10.0% | 7.8% | 13.6% | 10.6% | 11.7% | 13.6% |
| EPS | $0.73 | $0.88 | $0.90 | $0.71 | $1.20 | $0.94 | $1.58 | $1.34 |
Light & Wonder Earnings Trend Analysis
Over the eight quarters from Q4 '23 to Q3 '25, Light & Wonder’s quarterly revenue moved from $771M to $841M. Net margin expanded from 8.7% to 13.6%, against a 0% gross margin in the most recent quarter — a read on whether revenue growth is translating into profit. Light & Wonder has beaten Wall Street EPS estimates in 4 of its last 8 reported quarters.
When Is Light & Wonder’s Next Earnings Date?
Light & Wonder reports earnings on a quarterly schedule. Its most recent report covered Q3 '25. For the confirmed upcoming date — and every other company reporting soon — see the LNW earnings calendar.
Frequently Asked Questions: Light & Wonder Earnings
Light & Wonder's next earnings date has not been confirmed yet. See the earnings calendar for all upcoming reports.
Light & Wonder reported Q3 '25 EPS of $1.34 on revenue of $841M (+2.9% YoY). Light & Wonder missed estimates, reporting $1.34 vs. the $1.39 estimate.
Light & Wonder reported Q3 '25 revenue of $841M, up 2.9% from the same quarter a year earlier.
Signals like job postings, web traffic, and employee sentiment reflect business activity in real time and can move before quarterly results are reported. AltIndex combines them with 25+ others in the LNW AI Score.
