MGM Resorts International Q2 Profit Decreases, but beats estimates

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

The company's earnings came in at $200.80 million, or $0.55 per share. This compares with $1.78 billion, or $4.20 per share, in last year's second quarter.

Excluding items, MGM Resorts International reported adjusted earnings of $0.59 per share for the period.

Analysts on average had expected the company to earn $0.54 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.9% to $3.94 billion from $3.26 billion last year.

MGM Resorts International earnings at a glance (GAAP) :

-Earnings (Q2): $200.80 Mln. vs. $1.78 Bln. last year. -EPS (Q2): $0.55 vs. $4.20 last year. -Analyst Estimates: $0.54 -Revenue (Q2): $3.94 Bln vs. $3.26 Bln last year.