Wynn Resorts Shares Down After Surprise Q1 Loss

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Wynn Resorts Ltd. late Tuesday said it lost $44.6 million, or 44 cents a share, in the first quarter, versus net earnings of $223 million, or $2.22 a share, a year ago. Adjusted for one-time losses, the company earned 70 cents a share in the quarter, it said. Revenue reached $1.09 billion in the quarter, compared with $1.5 billion a year ago, mainly on revenue declines from Wynn's Macau, China operations, the company said. Analysts polled by FactSet, citing adjusted earnings, had expected Wynn to report earnings of $1.28 a share and revenue of $1.15 billion for the quarter.

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