MGM Resorts International Q1 Profit Decreases, But Beats Estimates

(RTTNews) - MGM Resorts International (MGM) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $148.55 million, or $0.51 per share. This compares with $217.48 million, or $0.67 per share, last year.

Excluding items, MGM Resorts International reported adjusted earnings of $0.69 per share for the period.

Analysts on average had expected the company to earn $0.46 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.4% to $4.277 billion from $4.383 billion last year.

MGM Resorts International earnings at a glance (GAAP) :

-Earnings: $148.55 Mln. vs. $217.48 Mln. last year. -EPS: $0.51 vs. $0.67 last year. -Revenue: $4.277 Bln vs. $4.383 Bln last year.