MGM (MGM) Posts Q4 GAAP Loss of 70c/Share

MGM (NYSE: MGM) reported Q4 EPS of ($0.70), which may not compare with the analyst estimate of $0.06. Revenue for the quarter came in at $2.39 billion versus the consensus estimate of $2.41 billion.

The current year fourth quarter income tax provision was unfavorably impacted by a non-cash charge due to an increase in valuation allowance recorded against the Company's foreign tax credit deferred tax asset. The Company's income tax provision per diluted share was $0.67 for the quarter. Absent the impact of the valuation allowance, a small tax benefit would have been recorded in the quarter.

MGM China's net revenue was $719 million and Adjusted EBITDA was $185 million, each a 22% decrease compared to the prior year quarter.

For earnings history and earnings-related data on MGM (MGM) click here.

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