Melco Resorts (MLCO) Q4 Earnings Lag, Revenues Top Estimates
Zacks Investment Research | Feb 08, 2018 10:12PM ET
Melco Resorts & Entertainment Limited (NASDAQ:MLCO) posted mixed fourth-quarter 2017 results, with the top line surpassing the Zacks Consensus Estimate and the bottom line missing the same.
Adjusted earnings of 20 cents per share missed the consensus mark of 23 cents by 13% but grew 58.9% year over year. The upside was driven by higher casino revenues from Studio City and Altira Macau, partially offset by lower revenues from City of Dreams in Macau.
Quarterly net revenues totaled $1,332.6 million, surpassing the consensus estimate of $1,326 million by 0.5%. Net revenues grew 12% year over year, driven by higher rolling chip revenues across all properties and increased mass market table games revenues from Studio City and City of Dreams Manila. This was partially offset by lower mass market table games revenues from City of Dreams in Macau.
Melco Crown Entertainment Limited Price, Consensus and EPS Surprise
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