Wynn Resorts Ltd. (WYNN) Profit Soars
Wynn Resorts Ltd., the casino company run by billionaire Steve Wynn, swung to a second-quarter profit of $89.6 million, driven by the opening of the Wynn Macau resort and strong results in Las Vegas.
The company had net income of 82 cents a share, reversing a loss of $20.1 million, or 20 cents a share, in the year-ago period.
Net revenue more than doubled to $687.5 million in the quarter that ended June 30 from $273.4 million in the same quarter a year earlier.
Adjusted net income rose to $100.8 million, or 92 cents a share, from a loss of $4.9 million, or 5 cents a share, a year ago.
Analysts surveyed by Thomson Financial expected adjusted net income of 53 cents a share.
The company had net income of 82 cents a share, reversing a loss of $20.1 million, or 20 cents a share, in the year-ago period.
Net revenue more than doubled to $687.5 million in the quarter that ended June 30 from $273.4 million in the same quarter a year earlier.
Adjusted net income rose to $100.8 million, or 92 cents a share, from a loss of $4.9 million, or 5 cents a share, a year ago.
Analysts surveyed by Thomson Financial expected adjusted net income of 53 cents a share.
posted by Stock Administrator @ 9:21 PM
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