Wynn Resorts Misses Q2 Analyst Estimates, Reports 94.8% Operating Revenue Plunge
Operating as part of an industry that saw its profits gutted earlier in the year by COVID-19 lockdowns and travel bans, Wynn Resorts (NASDAQ: WYNN) provided its Q2 2020 financial results in a press release today, missing on earnings per share (EPS) and revenue. Quarterly operating revenue nosedived from Q2 2019's $1.66 billion to $85.7 million this year, a drop of $1.57 billion year over year, amounting to a 94.8% decline.
The results were worse than analysts anticipated, though Wall Street had expected the company to take a drubbing in line with the remainder of its industry. The consensus had pegged revenue at approximately $275.2 million, meaning the negative surprise proved to be sizable. Analysts' adjusted EPS forecasts looked for a $4.91 loss per share, versus the actual loss per share of $6.14.
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Source Fool.com
