Caesars Entertainment Misses Q4 Earnings, Sales Estimates
Portfolio Pulse from Erica Kollmann
Caesars Entertainment, Inc. (NASDAQ:CZR) reported Q4 financial results, missing both earnings and sales estimates. The company had a quarterly loss of 34 cents per share, significantly below the analyst consensus of 7 cents. Sales were $2.83 billion, slightly missing the $2.85 billion estimate. However, Caesars Digital showed improvement with adjusted EBITDA of $29 million compared to a loss in the previous year. CEO Tom Reeg highlighted growth in Caesars Digital and overall reduced net loss and stable adjusted EBITDA year over year.
February 20, 2024 | 9:30 pm
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Caesars Entertainment reported a significant miss in Q4 earnings and slight miss in sales estimates, but showed improvement in Caesars Digital's performance.
The significant miss in earnings per share and the slight miss in sales estimates are likely to negatively impact investor sentiment in the short term, despite the positive performance in Caesars Digital. The after-hours trading indicates an immediate negative reaction from the market.
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