Melco Resorts & Entertainment Q1 Adj $0.04 Misses $0.05 Estimate, Sales $1.11B Beat $1.02B Estimate
Portfolio Pulse from Benzinga Newsdesk
Melco Resorts & Entertainment (MLCO) reported Q1 earnings of $0.04 per share, missing the $0.05 estimate but beating the $0.03 consensus by 46.67%. Year-over-year, this marks a 131.65% increase from a $(0.14) loss per share. Q1 sales were $1.11B, narrowly missing the $1.12B estimate by 0.71% but representing a 55.20% increase from $716.48M in the same period last year.
April 30, 2024 | 12:10 pm
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Melco Resorts & Entertainment reported mixed Q1 results with earnings slightly missing but sales beating estimates, showing significant year-over-year growth.
The mixed results with a slight earnings miss but a beat on sales and significant year-over-year growth could lead to neutral short-term stock price movement. Investors might weigh the positive sales growth against the earnings miss, leading to uncertain short-term price direction.
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IMPORTANCE 75
RELEVANCE 100