Wynn Resorts (WYNN) Swings to Strong Q4 Profit; Macau Revs Up 79%
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Price: $141.64 -0.55%
Revenue Growth %: +5.3%
Financial Fact:
Less: promotional allowances: -89.58M
Today's EPS Names:
NED, OESX, WSTL, More
Revenue Growth %: +5.3%
Financial Fact:
Less: promotional allowances: -89.58M
Today's EPS Names:
NED, OESX, WSTL, More
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Wynn Resorts Ltd. (NASDAQ: WYNN) posted better-than-expected fourth-quarter results on Thursday, but shares are down as investors were unimpressed.
The Las Vegas style casino resort operator reported fourth-quarter earnings of $114.2 million or 91 cents per share, compared with a loss of $5.2 million or 4 cents per share in the same quarter last year.
Revenue for the company rose to $1.24 billion, compared with $809.3 million in the year-ago period.
On average, analysts had been looking for earnings of 65 cents per share on revenue of $1.24 billion in the quarter.
Wynn said that the boost in revenue was due to a sharp rise of 79 percent rise in Macau, and an 8 percent increase in Las Vegas.
The company did add that room revenue for Las Vegas in the period fell 1.76 percent, while the average daily rate was up 7.1 percent. This was largely due to the remodeling of the hotel area in Las Vegas during the period according to the company.
Shares of Wynn are down $1.15 to $119.00 in aftermarket movement on Thursday.
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The Las Vegas style casino resort operator reported fourth-quarter earnings of $114.2 million or 91 cents per share, compared with a loss of $5.2 million or 4 cents per share in the same quarter last year.
Revenue for the company rose to $1.24 billion, compared with $809.3 million in the year-ago period.
On average, analysts had been looking for earnings of 65 cents per share on revenue of $1.24 billion in the quarter.
Wynn said that the boost in revenue was due to a sharp rise of 79 percent rise in Macau, and an 8 percent increase in Las Vegas.
The company did add that room revenue for Las Vegas in the period fell 1.76 percent, while the average daily rate was up 7.1 percent. This was largely due to the remodeling of the hotel area in Las Vegas during the period according to the company.
Shares of Wynn are down $1.15 to $119.00 in aftermarket movement on Thursday.
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