Investing.com - Melco Resorts & Entertainment reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Melco Resorts & Entertainment announced earnings per share of $-0.369 on revenue of $474.95M. Analysts polled by Investing.com anticipated EPS of $-0.405 on revenue of $490.44M.
Melco Resorts & Entertainment shares are down 44.2% from the beginning of the year, still down 70.39% from its 52 week high of $19.18 set on May 5, 2021. They are under-performing the Nasdaq which is down 17.13% from the start of the year.
Melco Resorts & Entertainment shares gained 3.52% in pre-market trade following the report.
Melco Resorts & Entertainment follows other major Consumer Discretionary sector earnings this month
Melco Resorts & Entertainment's report follows an earnings missed by Amazon.com on April 28, who reported EPS of $-7.56 on revenue of $116.44B, compared to forecasts EPS of $8.35 on revenue of $116.45B.
Tesla had beat expectations on April 20 with first quarter EPS of $3.22 on revenue of $18.76B, compared to forecast for EPS of $2.26 on revenue of $17.87B.
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