Wynn shares wobbly after earnings beat, revenue doesn't
Wynn Resorts Ltd. shares fluctuated between slight gains and losses in the extended session Tuesday after the casino operator's revenue fell short of Wall Street estimates even as adjusted earnings beat the consensus view. Wynn shares were last down 1.3% after hours, following a 1.7% decline to close at $190 in the regular session. The company reported a first-quarter loss of $204.3 million, or $1.99 a share, compared with earnings of $100.8 million, or 99 cents a share, in the year-ago period. Adjusted earnings were $2.30 a share. Revenue rose to $1.72 billion from $1.42 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $1.98 a share on revenue of $1.75 billion. The company's board also hiked the quarterly dividend 50% to 75 cents a share, payable on May 29.