» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 133 | NO. 38 | Wednesday, February 21, 2018

MGM Misses Q4 Profit Forecasts

The Associated Press

Print | Front Page | Email this story | Comments ()

LAS VEGAS (AP) – MGM Resorts International on Tuesday reported fourth-quarter net income of $1.4 billion.

The Las Vegas-based company, whose holdings include Gold Strike Casino Resort in Tunica, said it had a profit of $2.42 per share. Earnings, adjusted for pretax gains, were less than 1 cent on a per-share basis.

The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The casino and resort operator posted revenue of $2.6 billion in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $2.5 billion.

MGM shares have climbed 3 percent since the beginning of the year. The stock has climbed 30 percent in the last 12 months.

_____

This story was generated by Automated Insights (automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGM at www.zacks.com/ap/MGM

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 238 15,862
MORTGAGES 122 284 18,332
FORECLOSURE NOTICES 0 21 2,426
BUILDING PERMITS 137 452 32,966
BANKRUPTCIES 62 178 10,191
BUSINESS LICENSES 23 73 5,251
UTILITY CONNECTIONS 0 64 6,213
MARRIAGE LICENSES 13 63 3,476

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.