Wynn Resorts posted adjusted earnings of $1.24 per share, surpassing analyst expectations amid revenue growth to $1.86 billion.
Wynn Resorts Ltd reported second-quarter adjusted earnings of $1.24 per share, exceeding Wall Street estimates of $1.01 to $1.16. Revenue rose 6.9% year-over-year to $1.86 billion, topping consensus forecasts of $1.84 billion.
Net income attributable to the company reached $140.1 million, or $1.32 per diluted share, up from $66.2 million, or $0.64 per share, in the same period last year. Adjusted Property EBITDAR climbed to $568.3 million, driven by growth in Macau operations, where Wynn Palace revenue increased to $653.4 million.
Shares climbed about 7% following the results, reflecting investor optimism over the company’s improved profitability and revenue growth.