Asia Entertainment & Resources (NASDAQ:AERL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Asia Entertainment & Resources Earnings Cheat Sheet
Revenue: Decreased 4.34% to $64.4 million from the year-earlier quarter.
Quoting Management: “We continue to manage our business appropriately to reduce exposure to undue risk that can impair longer-term growth,” said Mr. Man Pou Lam (Mr. Lam), Chairman of AERL. “We have started to experience stabilization in the VIP gaming market which should have a positive impact on our overall long-term performance. Further, our shift to a revenue sharing model is allowing us to improve our competitiveness in the market, with the ultimate goal of increasing market share leading to growth in revenue and net income. We remain committed to growing our business presence in the Macau VIP gaming market as evidenced by our recent announcement regarding Le Royal Arc Casino and remain committed to creating long-term shareholder value.”
Key Stats (on next page)…
Revenue increased 14.14% from $56.42 million in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)