Pinnacle Entertainment: 2Q Earnings Snapshot
LAS VEGAS (AP) _ Pinnacle Entertainment Inc. (PNK) on Thursday reported second-quarter profit of $21.9 million.
On a per-share basis, the Las Vegas-based company said it had net income of 35 cents. Earnings, adjusted for pretax gains, came to 29 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The casino operator posted revenue of $647.6 million in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $657.7 million.
Pinnacle Entertainment shares have increased roughly 1 percent since the beginning of the year. The stock has risen 74 percent in the last 12 months.