Wynn Resorts shares fall 12 percent as it misses earnings estimates

Business


Billy H.C. Kwok | Bloomberg | Getty Images

People use mobile devices to take photographs of a fountain outside the Wynn Macau casino resort, operated by Wynn Resorts Ltd., in Macau, China, on Tuesday, Jan. 30, 2018.

Wynn Resorts shares declined more than 12 percent during after-hours trading as the company missed estimates in its quarterly earnings.

The hotel and casino company reported earnings of $1.68 a share, while analysts expected $1.69 a share. However, it did beat on revenue, coming in at $1.71 billion versus an estimate of $1.66 billion.

The good performance was driven by strong results in Macau. Revenues at Wynn Macau and Wynn Palace were above analyst estimates.



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