LAS VEGAS (AP) — MGM Resorts International (MGM) on Thursday reported second-quarter profit of $43.4 million.
The Las Vegas-based company said it had net income of 8 cents per share. Earnings, adjusted for non-recurring costs, came to 23 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The casino and resort operator posted revenue of $3.22 billion in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $3.24 billion.
MGM shares have climbed 21% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.37, a drop of almost 7% in the last 12 months.