Investing.com - Melco Resorts & Entertainment reported on Tuesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Melco Resorts & Entertainment announced earnings per share of $-0.43 on revenue of $446.4M. Analysts polled by Investing.com anticipated EPS of $-0.3799 on revenue of $518.2M.
Melco Resorts & Entertainment shares are down 37.52% from the beginning of the year, still down 50.95% from its 52 week high of $23.63 set on March 3. They are under-performing the Nasdaq which is up 24.01% from the start of the year.
Melco Resorts & Entertainment shares gained 0.95% in pre-market trade following the report.
Melco Resorts & Entertainment follows other major Services sector earnings this month
Melco Resorts & Entertainment's report follows an earnings beat by Visa A on October 26, who reported EPS of $1.62 on revenue of $6.56B, compared to forecasts EPS of $1.55 on revenue of $6.52B.
Netflix had beat expectations on October 19 with third quarter EPS of $3.19 on revenue of $7.48B, compared to forecast for EPS of $2.57 on revenue of $7.48B.
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