AP NEWS

Wynn: 2Q Earnings Snapshot

August 1, 2018

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.

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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 WYNN at https://www.zacks.com/ap/WYNN

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