Wynn Resorts Q2 Profit Rises; Profit Tops View, But Revenues Miss - Quick Facts

(RTTNews) - Wynn Resorts Limited (WYNN) said that its net income attributable to the company for the second quarter of 2014 was $203.9 million or $2.00 per share, up from $129.8 million, or $1.28 per share in the second quarter of 2013.

Adjusted net income attributable to the company was $215.1 million or $2.11 per share, compared to an adjusted net income of $152.9 million, or $1.51 per share, in the second quarter of 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $1.95 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues for the second quarter were $1.412 billion, compared to $1.332 billion in the second quarter of 2013. The growth was the result of a 12.5% increase in net revenues from its Las Vegas Operations and a 3.2% net revenue increase from its Macau Operations. Wall Street expected revenues of $1.43 billion for the quarter.

Wynn Resorts also announced that the Company has approved a cash dividend for the quarter of $1.25 per common share. This dividend will be payable on August 26, 2014, to stockholders of record on August 12, 2014.