MGM Resorts International reported a strong performance in the first quarter of 2024, surpassing analyst expectations with adjusted earnings per share of $0.74 against estimates of $0.56, and generating sales of $4.383 billion, exceeding forecasts of $4.236 billion. The company attributed its record quarterly revenue of $4.83 billion (£3.85bn/€4.51bn) to robust performances in its China and Las Vegas operations. Additionally, MGM China achieved significant revenue growth, contributing to the company's highest ever market share. The positive results led to a 7.1% increase in MGM's stock price in pre-market trading, as Wall Street praised the company's earnings, particularly highlighting the momentum in Macau.
MGM Stock Rises as Wall Street Praises Earnings. There’s ‘Momentum in Macau.’ https://t.co/RgosQromv9
$MGM (+7.1% pre) MGM China sees first-quarter revenue soar as it sets its sights on protecting its highest ever market share https://t.co/DmcGyPhFXX
MGM Resorts International said record performances by its businesses in both China and Las Vegas drove quarterly revenue to a record $4.83bn (£3.85bn/€4.51bn) in Q1 https://t.co/uuIDfgMFAp https://t.co/qluIn7ONjM
$MGM | MGM Resorts Posts Better-Than-Expected Q1 Results MGM reports quarterly earnings of 74 cents per share which beat the analyst consensus estimate of 56 cents by 32.14%. Quarterly sales clock in at $4.383 billion, beating the analyst consensus estimate of $4.236 billion by… https://t.co/3eZjTz5T1h
$MGM | MGM Resorts Intl Q1 Earnings: - Adj EPS $0.74 (Est. $0.56)🟢 - Sales $4.383B (Est. $4.236B) 🟢