Shares Of MGM Resorts Rise 5% Following Improved Q3 Earnings, Revenue Results

Shares of MGM Resorts International , rose nearly 5% in premarket trade on Monday after the company reported improved third-quarter profit and revenue. Net Income for the quarter was $535.6 million, or 93 cents per share, up from $66.4 million, or 12 cents during the same quarter a year ago. The earnings bump included 60 cents related to a $430 million gain on Borgata acquisition and a 20 cents charge related to the NV Energy exit, according to a company release. FactSet's earnings consensus was for 14 cents per share. MGM revenue hit $2.7 billion, compared with $2.5 billion a year ago. Revenue came in ahead of FactSet's $2.4 billion consensus. Shares of MGM are up more than 16% in the year to date, outperforming the S&P 500 Index , which is up 2%.