Melco Announces Unaudited Third Quarter 2020 Earnings
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Melco Resorts & Entertainment (MLCO) Tops Q3 EPS by 10c, Revenues Miss
November 5, 2020 8:16 AM ESTMelco Resorts & Entertainment (NASDAQ: MLCO) reported Q3 EPS of ($0.70), $0.10 better than the analyst estimate of ($0.80). Revenue for the quarter came in at $212.9 million versus the consensus estimate of $238.51 million.
Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, COVID-19 and the subsequent travel restrictions continue to have a significant negative impact on our operating and financial performance. Despite that, our integrated resorts experienced a moderate recovery in business levels during the third quarter, benefiting from the partial resumption of casino operations in Cyprus and Manila, as well as the gradual resumption of visa... More
