MGM Resorts Q1 Earnings and Revenues Beat Estimates
MGM Resorts (NYSE: MGM) came out with quarterly earnings of $0.74 per share, beating the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.44 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 23.33%. A quarter ago, it was expected that this casino and resort operator would post earnings of $0.67 per share when it actually produced earnings of $1.06, delivering a surprise of 58.21%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
MGM, which belongs to the Zacks Gaming industry, posted revenues of $4.38 billion for the quarter ended March 2024, surpassing the Zacks Consensus Estimate by 4.81%. This compares to year-ago revenues of $3.87 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
MGM shares have lost about …
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