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.-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing
-
Going Into Earnings, Is Nvidia Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Arista Stock a Buy, a Sell, or Fairly Valued?
-
A Cheap Dividend Aristocrat to Buy Before It Bounces Back
-
Alibaba Earnings: More Positive Outlook Despite Mixed Results
-
After Earnings and a 56% Rally In 2024, Is Arm Stock a Buy, a Sell, or Fairly Valued?
-
How Morningstar Rates Stocks