Hospitality and casino entertainment company MGM Resorts (NYSE:MGM) reported Q2 CY2025 results beating Wall Street’s revenue expectations, with sales up 1.8% year on year to $4.40 billion. Its non-GAAP profit of $0.79 per share was 42.7% above analysts’ consensus estimates.
MGM Resorts’ second quarter delivered revenue growth and an adjusted profit well ahead of Wall Street expectations, but the market responded negatively due to a significant shortfall in adjusted EBITDA. Management highlighted the benefits of MGM’s diversified portfolio, with international and digital segments offsetting softness in Las Vegas. CEO Bill Hornbuckle pointed to ongoing room renovations at MGM Grand and weaker midweek performance at value-oriented Las Vegas properties as the main drags on domestic results, while he noted record performance in China and regional markets as key supports.
A number of stocks jumped in the afternoon session after the latest Consumer Price Index (CPI) report showed inflation holding steady, bolstering investor optimism for a potential interest rate cut by the Federal Reserve. The data, which revealed that inflation remained at 2.7% for the year ending in July, was seen as a positive sign by investors. This stability increases the likelihood that the Federal Reserve might lower interest rates at its upcoming September meeting. Lower interest rates can stimulate the economy by making borrowing cheaper for both consumers and businesses, which often translates into higher consumer spending. This is particularly beneficial for the Consumer Discretionary sector, which includes companies selling non-essential goods and services like apparel, travel, and electronics.
Shares of digital media conglomerate IAC (NASDAQGS:IAC) fell 13.5% in the afternoon session after the company reported second-quarter revenue that fell short of analyst expectations, overshadowing a significant profit. The media and internet company’s revenue landed at $586.9 million, a 7% drop from the year-ago period. This decline stemmed from weakness in several key areas. Although IAC recorded a profit of $2.57 per share, a stark reversal from last year's loss, this figure included a large unrealized gain from its investment in MGM Resorts International. Investors appeared to focus on the operational weakness rather than the investment-driven profit.
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Hospitality and casino entertainment company MGM Resorts (NYSE:MGM) beat Wall Street’s revenue expectations in Q2 CY2025, with sales up 1.8% year on year to $4.40 billion. Its non-GAAP profit of $0.79 per share was 42.7% above analysts’ consensus estimates.
A number of stocks fell in the afternoon session after the latest U.S. consumer confidence report revealed underlying weakness despite a headline increase, raising concerns about future spending.
Hospitality and casino entertainment company MGM Resorts (NYSE:MGM)
will be reporting results this Wednesday afternoon. Here’s what investors should know.
Ike Barinholtz, the actor known for his role in Apple's "The Studio," is in talks to play Elon Musk in an upcoming AI-themed film, "Artificial." The movie, directed by Luca Guadagnino, is set to be released by Amazon (NASDAQ: AMZN) MGM Studios.
