MGM Resorts Reports Better-Than-Expected Q2 Results, Record Net Revenues
Portfolio Pulse from Erica Kollmann
MGM Resorts International (NYSE:MGM) reported better-than-expected Q2 results with earnings of 86 cents per share and $4.3 billion in sales, both surpassing analyst estimates. Las Vegas strip resorts and China operations showed significant revenue growth. Despite the positive results, MGM shares fell 4% after-hours.
July 31, 2024 | 9:15 pm
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MGM Resorts International reported strong Q2 results, beating earnings and revenue estimates. Las Vegas and China operations showed significant growth. Despite the positive financials, shares fell 4% after-hours.
MGM's better-than-expected earnings and revenue growth, particularly in Las Vegas and China, indicate strong operational performance. However, the 4% after-hours drop suggests market concerns or profit-taking. Overall, the positive financials should support the stock in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100