MGM: 1Q Earnings Snapshot
LAS VEGAS (AP) _ MGM Resorts International (MGM) on Thursday reported first-quarter earnings of $806.9 million.
The Las Vegas-based company said it had profit of $1.64 per share. Losses, adjusted for non-recurring gains, came to 45 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The casino and resort operator posted revenue of $2.25 billion in the period.
MGM shares have decreased 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.82, a drop of 41% 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 MGM at https://www.zacks.com/ap/MGM