Investing.com - Melco Resorts & Entertainment reported on Thursday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Melco Resorts & Entertainment announced earnings per share of $-0.51 on revenue of $296.1M. Analysts polled by Investing.com anticipated EPS of $-0.4934 on revenue of $355.76M.
Melco Resorts & Entertainment shares are down 45.68% from the beginning of the year, still down 62.25% from its 52 week high of $14.65 set on September 8, 2021. They are under-performing the Nasdaq which is down 17.3% from the start of the year.
Melco Resorts & Entertainment shares gained 10.13% 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 July 28, who reported EPS of $-0.2 on revenue of $121.23B, compared to forecasts EPS of $0.1199 on revenue of $119B.
Tesla had beat expectations on July 20 with second quarter EPS of $2.27 on revenue of $16.93B, compared to forecast for EPS of $1.81 on revenue of $16.54B.
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