MGM Resorts International Profit Declines 61% In Q1

(RTTNews) - MGM Resorts International (MGM) announced earnings for first quarter that lost ground from last year.

The company said its profit dropped to $66.80 million, or $0.12 per share. This was lower than $169.85 million, or $0.33 per share, in last year's first quarter.

Analysts had expected the company to earn $0.11 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 5.2% to $2.21 billion. This was down from $2.33 billion last year.

MGM Resorts International earnings at a glance:

-Earnings (Q1): $66.80 Mln. vs. $169.85 Mln. last year. -Earnings Decline (Y-o-Y): -60.7% -EPS (Q1): $0.12 vs. $0.33 last year. -EPS Decline (Y-o-Y): -63.6% -Analysts Estimate: $0.11 -Revenue (Q1): $2.21 Bln vs. $2.33 Bln last year. -Revenue Change (Y-o-Y): -5.2%