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By Yasin Ebrahim
Investing.com – Wynn Resorts (NASDAQ:) reported on Tuesday first quarter that missed analysts’ forecasts as pandemic restrictions within the playing mecca of Macau in China stifled progress.
Wynn Resorts shares misplaced 1.8% in after-hours commerce following the report.
Wynn Resorts introduced earnings per share of $-1.21 on income of $953.33M. Analysts polled by Investing.com anticipated EPS of $-1.17 on income of $986.35M.
The miss comes because the power in its Las Vegas operations was offset by weak spot in its Macau operations following the influence from pandemic-related journey restrictions within the area.
Working revenues from Wynn Macau (OTC:) have been $135.1 million for the primary quarter of 2022, a lower of $44.6 million from $179.7 million for the primary quarter of 2021.
“The outcomes of operations of our Macau operations for the primary quarter of 2022 continued to be negatively impacted by sure travel-related restrictions and circumstances, together with COVID-19 testing and different mitigation procedures, associated to the COVID-19 pandemic,” the corporate stated.
Wanting forward, the corporate stated it stays assured that in Macau the market will profit from the return of visitation when journey restrictions subside.
Keep up-to-date on all the upcoming earnings studies by visiting Investing.com’s earnings calendar
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