Wynn Resorts shares fall 12 percent as it misses earnings estimates


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.

Source link

Articles You May Like

Here’s how much workers in other countries need to retire
Worries about iPhone demand hit shares of Apple suppliers in Asia
Apple suppliers cut forecasts amid rumors Apple is scaling back iPhone 
Harry Potter movie Crimes of Grindelwald is most anticipated fall film
The 5 features that make the world’s longest flight more comfortable