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Melco: 2Q Earnings Snapshot

July 24, 2019

HONG KONG (AP) _ Melco Resorts and Entertainment Ltd. (MLCO) on Wednesday reported second-quarter net income of $100.3 million.

The Hong Kong-based company said it had net income of 22 cents per share. Earnings, adjusted for non-recurring costs, were 24 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The casino company posted revenue of $1.44 billion in the period.

Melco shares have risen 41% since the beginning of the year. The stock has increased 3% 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 MLCO at https://www.zacks.com/ap/MLCO

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