Wynn Resorts posts 4Q profit, results miss Wall Street forecasts

MarketsAssociated Press

LAS VEGAS (AP) — Wynn Resorts Ltd. (WYNN) on Tuesday reported fourth-quarter earnings of $109.3 million.

On a per-share basis, the Las Vegas-based company said it had net income of $1.07. Earnings, adjusted for non-recurring costs and to extinguish debt, were $1.20 per share.

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The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.44 per share.

The casino operator posted revenue of $1.14 billion in the period, also falling short of Street forecasts. Analysts expected $1.24 billion, according to Zacks.

For the year, the company reported profit of $731.6 million, or $7.18 per share. Revenue was reported as $5.43 billion.

Wynn shares have increased almost 5 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Tuesday, shares hit $155.80, a decline of 26 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WYNN at http://www.zacks.com/ap/WYNN

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Keywords: Wynn Resorts, Earnings Report