MGM: 3Q Earnings Snapshot
LAS VEGAS (AP) _ MGM Resorts International (MGM) on Wednesday reported a third-quarter loss of $37.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Las Vegas-based company said it had a loss of 8 cents. Earnings, adjusted for non-recurring costs, came to 31 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The casino and resort operator posted revenue of $3.31 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $3.37 billion.
MGM shares have climbed 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.67, a rise of 14% in the last 12 months.