MGM Q4 Earnings Highlights: Revenue Beat, EPS Beat, Record Las Vegas & China Results, Super Bowl Kicks Off Strong Q1
Portfolio Pulse from Chris Katje
MGM Resorts International (NYSE:MGM) reported Q4 earnings with a revenue of $4.38 billion, up 22% YOY, beating estimates. EPS was $1.06, surpassing expectations. Las Vegas and China operations set records, while Detroit faced a union strike impact. The company anticipates a strong Q1 due to the Super Bowl and has repurchased shares worth $249 million YTD.
February 13, 2024 | 9:47 pm
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MGM Resorts International reported strong Q4 earnings, with significant revenue and EPS beats, driven by record results in Las Vegas and China. The company also highlighted share repurchases and a positive outlook for Q1.
The positive earnings report, with revenue and EPS beats, indicates strong operational performance, particularly in Las Vegas and China. The anticipation of a strong Q1, partly due to the Super Bowl, along with the company's aggressive share repurchase program, suggests confidence in future growth and shareholder value enhancement. These factors are likely to positively influence investor sentiment and MGM's stock price in the short term.
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