Wynn Resorts Earnings: Casino Jackpot!
S&P 500 (NYSE:SPY) component Wynn Resorts, Limited (NASDAQ:WYNN) reported net income above Wall Street’s expectations for the most recent quarter. Wynn Resorts, Ltd. is a developer, owner and operator of destination casino resorts. It owns and operates three: Wynn Las Vegas, Encore at Wynn Las Vegas and Wynn Macau.
Wynn Resorts Earnings Cheat Sheet for the First Quarter
Results: Net income for Wynn Resorts, Limited rose to $226.3 million ($1.39/share) vs. $27 million (22 cents/share) YoY. A substantial increase from the year earlier quarter.
Revenue: Rose 38.7% to $1.26 billion YoY.
Actual vs. Wall St. Expectations: WYNN beat the mean analyst estimate of 72 cents/share. Estimates ranged from 50 cents per share to 91 cents per share.
The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 37.5%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 52.9% from the year earlier quarter.
Competitors to Watch: Las Vegas Sands Corp. (NYSE:LVS), MGM Resorts International. (NYSE:MGM), Melco Crown Entertainment Ltd (NASDAQ:MPEL), Boyd Gaming Corporation (NYSE:BYD), and Pinnacle Entertainment, Inc (NYSE:PNK).
Today’s Performance: Shares of WYNN are up 4.5% in after hours trading.