Monarch Casino: Q2 Earnings Snapshot
RENO, Nev. (AP) _ Monarch Casino & Resort Inc. (MCRI) on Wednesday reported second-quarter net income of $19.4 million.
On a per-share basis, the Reno, Nevada-based company said it had net income of 99 cents. Earnings, adjusted for non-recurring costs, came to $1.11 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The casino operator posted revenue of $115.3 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $116.2 million.