MGM Resorts International Q1 Profit Decreases, but beats estimates

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

The company's bottom line came in at $217.48 million, or $0.67 per share. This compares with $466.81 million, or $1.24 per share, in last year's first quarter.

Excluding items, MGM Resorts International reported adjusted earnings of $0.74 per share for the period.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.2% to $4.38 billion from $3.87 billion last year.

MGM Resorts International earnings at a glance (GAAP) :

-Earnings (Q1): $217.48 Mln. vs. $466.81 Mln. last year. -EPS (Q1): $0.67 vs. $1.24 last year. -Revenue (Q1): $4.38 Bln vs. $3.87 Bln last year.