Wynn Resorts Limited Earnings: Tops Analysts’ Expectations
S&P 500 (NYSE:SPY) component Wynn Resorts Limited (NASDAQ:WYNN) reported net income above Wall Street’s expectations for the fourth 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 Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for the resort and casino company rose to $190.5 million ($1.52 per share) vs. $114.2 million (91 cents per share) in the same quarter a year earlier. This marks a rise of 66.7% from the year earlier quarter.
Revenue: Rose 8.6% to $1.34 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: Wynn Resorts Limited reported adjusted net income of $1.55 per share. By that measure, the company beat the mean estimate of $1.26 per share. Analysts were expecting revenue of $1.36 billion.
Revenue has risen the past four quarters. Revenue increased 29.1% to $1.3 billion in the third quarter. The figure rose 32.4% in the second quarter from the year earlier and climbed 38.7% in the first quarter from the year-ago quarter.
The company beat estimates last quarter after falling short in the previous two quarters. In the third quarter, it missed the mark by 12 cents, and in the second quarter, it fell short by 2 cents.
Looking Forward: Expectations for the company’s next quarter results are lower than they have been. Over the past sixty days, the average estimate for first quarter of the next fiscal year has fallen from $1.46 per share to $1.38. For the fiscal year, the average estimate has moved down from $5.35 a share to $5.27 over the last ninety days.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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