MGM: Q1 Earnings Snapshot
By AP News
Published - May 01, 2023, 04:57 PM ET
Last Updated - Jun 22, 2023, 12:20 AM EDT
LAS VEGAS (AP) — LAS VEGAS (AP) — MGM Resorts International (MGM) on Monday reported first-quarter profit of $466.8 million.
On a per-share basis, the Las Vegas-based company said it had profit of $1.24. Earnings, adjusted for non-recurring gains, were 44 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The casino and resort operator posted revenue of $3.87 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $3.51 billion.
