Wynn Resorts' stock falls 5% after Q3 results
Shares of Wynn Resorts Ltd. (WYNN) dropped more than 5% in the extended session Thursday despite an earnings beat for the the hospitality company. Wynn lost $116.7 million, or $1.03 a share, compared with a loss of $142.9 million, or $1.27 a share, for the third quarter of 2022. Adjusted for one-time items, the company earned 99 cents a share. Revenue rose to $1.67 billion, from $889.7 million a year ago. Analysts polled by FactSet expected Wynn to report adjusted earnings of 74 cents a share on sales of $1.58 billion. "Our third-quarter results reflect continued strength across our property portfolio," Chief Executive Craig Billings said in a statement. A recovery continued at its Macau property, "with particular strength in our mass gaming, luxury retail and hotel businesses," he said.
-Claudia Assis
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-09-23 1651ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
Markets Brief: Q2 Earnings Season Begins With the Banks
-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
SolarEdge Stock Is Down 74% In 2024. Is It a Buy or a Sell?
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services