Caesars Entertainment Stock Is Up After Q2 Results
Portfolio Pulse from Erica Kollmann
Caesars Entertainment Inc (NASDAQ:CZR) shares rose after reporting Q2 results. The company posted quarterly revenue of $2.83 billion, missing analyst estimates by 1.28% and showing a 1.7% year-over-year decrease. Earnings per share were zero, missing the 13 cents estimate. Despite this, the company saw record Adjusted EBITDA in its Las Vegas and digital segments. Caesars remains optimistic for the rest of 2024, driven by strong performance in these areas.
July 30, 2024 | 9:40 pm
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Caesars Entertainment reported Q2 revenue of $2.83 billion, missing estimates by 1.28% and showing a 1.7% decrease year-over-year. EPS was zero, missing the 13 cents estimate. Despite this, the company saw record Adjusted EBITDA in its Las Vegas and digital segments. Shares rose 4.34% after-hours.
Despite missing revenue and earnings estimates, the strong performance in key segments like Las Vegas and digital, along with an optimistic outlook for 2024, has positively impacted investor sentiment, leading to a 4.34% rise in after-hours trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100