VOL. 133 | NO. 38 | Wednesday, February 21, 2018
MGM Misses Q4 Profit Forecasts
The Associated Press
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
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