Wynn: 2Q Earnings Snapshot
LAS VEGAS (AP) _ Wynn Resorts Ltd. (WYNN) on Wednesday reported second-quarter profit of $155.8 million.
The Las Vegas-based company said it had profit of $1.44 per share. Earnings, adjusted for non-recurring costs, came to $1.53 per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.
The casino operator posted revenue of $1.61 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $1.69 billion.
Wynn shares have fallen nearly 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 5 percent. In the final minutes of trading on Wednesday, shares hit $160.58, an increase of 25 percent in the last 12 months.