5 Stocks Gaining Attention on Earnings Reports

3. MGM Resorts International (NYSE:MGM)

Number of Hedge Fund Holders: 59

Shares of MGM Resorts International (NYSE:MGM) rose nearly two percent in the pre-market trading session on Thursday, 4 November 2021, after it surprised investors by reporting a profit for the third quarter.

The hospitality and entertainment company reported adjusted earnings of 3 cents per share, compared to a loss of $1.08 per share in the year-ago quarter. Analysts were expecting MGM Resorts International (NYSE:MGM) to post a loss of 1 cent per share.

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In addition, revenue for the quarter climbed 140 percent on a year-over-year basis to $2.7 billion, ahead of the consensus forecast of $2.4 billion. If we look at the performance of major segments, revenue from the Las Vegas Strip Resorts climbed 187 percent to $1.4 billion, while revenue from MGM China skyrocketed 517 percent to $289 million in the quarter. In comparison, revenue from regional operations jumped 66 percent versus last year to $925 million.