MGM Posts Steep Q4 Loss

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

MGM Resorts International (NYSE: MGM  ) has reported its Q4 and 2012 results, and the numbers aren't pretty. For the quarter, consolidated net revenue amounted to $2.3 billion, essentially matching the level of the same period the previous year. Net loss, however, deepened considerably to $1.2 billion ($2.50 per share), more than 10 times Q4 2011's $114 million.

Although the revenue figure met analyst expectations, the net loss was quite a bit steeper than the $0.22 they were anticipating.

The company attributed the large loss to a set of significant, one-time charges.

For the full year, MGM enjoyed a revenue increase of 17% on an annual basis to $9.2 billion; however, the bottom line plunged into the red at $1.8 billion ($3.62 per share). The 2011 figure was a profit of $3.1 billion ($6.37 EPS).

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2267114, ~/Articles/ArticleHandler.aspx, 9/28/2016 1:39:08 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 4 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:01 PM
MGM $25.57 Up +0.21 +0.83%
MGM Resorts Intern… CAPS Rating: ***