Investing.com - MGM reported on Thursday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
MGM announced earnings per share of $-0.45 on revenue of $2.25B. Analysts polled by Investing.com anticipated EPS of $-0.2 on revenue of $2.48B. That with comparison to EPS of $0.12 on revenue of $3.18B in the same period a year before.MGM had reported EPS of $0.08 on revenue of $3.19B in the previous quarter.Analysts are expecting EPS of $-0.82 and revenue of $1.64B in the upcoming quarter.
MGM shares are down 49% from the beginning of the year and are trading at $16.85 , down-from-52-week-high.They are under-performing the S&P 500 which is down 10.34% year to date.
MGM shares gained 0.18% in after-hours trade the report.
MGM follows other major Services sector earnings this month
MGM's report follows an earnings missed by Amazon.com on Thursday, who reported EPS of $5.01 on revenue of $75.45B, compared to forecasts EPS of $6.34 on revenue of $72.9B.
Visa A had beat expectations on Thursday with second quarter EPS of $1.39 on revenue of $5.85B, compared to forecast for EPS of $1.35 on revenue of $5.76B.
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