Wynn: 3Q Earnings Snapshot
LAS VEGAS (AP) — Wynn Resorts Ltd. (WYNN) on Wednesday reported a third-quarter loss of $3.5 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 3 cents. Earnings, adjusted for one-time gains and costs, were 17 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The casino operator posted revenue of $1.65 billion in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $1.67 billion.
Wynn shares have climbed 23% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 23%. In the final minutes of trading on Wednesday, shares hit $122.09, a climb of 11% in the last 12 months.