S&P 500 (NYSE:SPY) component Wynn Resorts Limited (NASDAQ:WYNN) reported its results for the third quarter. Wynn Resorts 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.
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Wynn Resorts Limited Earnings Cheat Sheet
Results: Net income for Wynn Resorts Limited fell to $112 million ($1.11 per share) vs. $127.1 million ($1.01 per share) a year earlier. This is a decline of 11.8% from the year-earlier quarter.
Revenue: Remained constant at $1.3 billion.
Actual vs. Wall St. Expectations: Wynn Resorts Limited reported adjusted net income of $1.48 per share. By that measure, the company beat the mean estimate of $1.33 per share. It fell short of the average revenue estimate of $1.36 billion.
The company trumped estimates last quarter after falling shy in the two quarters prior. In the second quarter, it missed the mark by 11 cents, and in the first quarter, it came in under estimates by 7 cents.
Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the fourth quarter has moved down from $1.36 a share to $1.31 over the last ninety days. At $5.39 per share, the average estimate for the fiscal year has fallen from $5.46 ninety days ago.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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