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Melco Resorts & Entertainment Limited (MLCO) - free report >>
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Melco Resorts & Entertainment Limited (MLCO) - free report >>
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Melco Resorts (MLCO) Q2 Earnings & Revenues Lag Estimates
Melco Resorts & Entertainment Limited (MLCO - Free Report) operates casino gaming and entertainment resort facilities primarily in Asia.
Recent numbers published by The Macau Gaming Inspection and Coordination Bureau have raised concerns for the short term. Though gaming revenues from Macau increased 12.1% in May, lagging analyst expectations and down 0.9% from April. Speculations over another crackdown on capital outflows by China have vexed investors as well. The company’s performance in the region is thus poised to get slightly hurt due to the operating environment therein.
Investors should note that the consensus estimate for MLCO has witnessed no upward revisions over the past 7 days. However, the company posted positive earnings surprises in two of the last four quarters, with an average beat of 4.8%.
MLCO currently has a Zacks Rank #5 (Strong Sell) but that could change following Melco Resorts’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MLCO beats on earnings. The consensus earnings estimate called for earnings per share of 25 cents, and the company reported earnings of 19.8 cents per share.
Revenues: MLCO reported revenues of $1.22 billion. This slightly missed the consensus estimate of $1.23 billion.
Key Stats to Note: Adjusted Property EBITDA in the quarter increased 8% year over year.
Melco Resorts & Entertainment Limited Price, Consensus and EPS Surprise
Melco Resorts & Entertainment Limited Price, Consensus and EPS Surprise | Melco Resorts & Entertainment Limited Quote
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