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Melco: 3Q Earnings Snapshot

October 30, 2019 GMT

HONG KONG (AP) _ Melco Resorts and Entertainment Ltd. (MLCO) on Wednesday reported third-quarter earnings of $83.2 million.

On a per-share basis, the Hong Kong-based company said it had profit of 17 cents. Earnings, adjusted for non-recurring costs, were 24 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The casino company posted revenue of $1.44 billion in the period.

Melco shares have risen 27% since the beginning of the year. The stock has risen 40% in the last 12 months.

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