Investing.com - Melco Resorts & Entertainment reported on Wednesday first quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Melco Resorts & Entertainment announced earnings per share of $-0.488 on revenue of $518.92M. Analysts polled by Investing.com anticipated EPS of $-0.31 on revenue of $597.64M.
Melco Resorts & Entertainment shares are up 5.5% from the beginning of the year and are trading at $19.57 , down-from-52-week-high.They are under-performing the Nasdaq which is up 9.13% from the start of the year.
Melco Resorts & Entertainment shares gained 1.98% in intra-day trade 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 Tuesday, who reported EPS of $1.38 on revenue of $5.73B, compared to forecasts EPS of $1.27 on revenue of $5.56B.
Verizon had beat expectations on Wednesday, April 21, 2021 with first quarter EPS of $1.31 on revenue of $32.9B, compared to forecast for EPS of $1.29 on revenue of $32.46B.
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