Casino Gaming Operator Melco Resorts & Entertainment Misses On Q3 Despite Y/Y Recovery
Portfolio Pulse from Shivani Kumaresan
Melco Resorts & Entertainment Ltd reported Q3 FY23 sales growth of 321% year-on-year to $1.017 billion, missing the analyst consensus estimate of $1.026 billion. The increase in revenues was due to improved performance in all gaming segments and non-gaming operations following the relaxation of COVID-19 related restrictions in Macau. However, the company's adjusted loss per ADS of $(0.025) missed the analyst consensus estimate of $0.03. Following the announcement, MLCO shares are trading lower by 10.94%.
November 07, 2023 | 5:44 pm
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Melco Resorts & Entertainment's Q3 FY23 sales missed analyst estimates, leading to a drop in its share price.
Melco Resorts & Entertainment reported lower than expected Q3 FY23 sales and an adjusted loss per ADS, which missed analyst estimates. This negative financial performance has led to a decrease in the company's share price.
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