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Why Wynn Resorts, Limited (WYNN) Stock Is Surging Today

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Wynn Resorts, Limited (NASDAQ: WYNN ) stock was up on Wednesday following the release of its earnings report for the first quarter of 2017.

Naked Put Options: Wynn (WYNN)

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During the first quarter of 2017, Wynn Resorts, Limited reported earnings per share of $1.24 cents. This is an increase over its earnings per share of $1.07 from the same time last year. It also came in above Wall Street's earnings per share estimate of 96 cents for the quarter.

Wynn Resorts, Limited reported revenue of $1.48 billion in the first quarter of the year. This is up from its revenue of $997 million that was reported in the first quarter of 2016. It also beat out analysts' revenue estimate of $1.38 billion for the first quarter of the year.

Operating income reported by Wynn Resorts, Limited in the first quarter of 2017 was $249.93 million. The casino resorts company's operating income from the same period of the year prior was $158.30 million.

Wynn Resorts, Limited reported net income of $132.53 million during its first quarter of the year. This comes in above its net income of $105.79 million that was reported during the first quarter of the previous year.

Wynn Resorts, Limited says that the increase in its net income in the first quarter of the year was due to a couple of reasons . The first reason was income from its Wynn Palace, which opened during the third quarter of 2017. The other was it pulling in more income from its Las Vegas Operations.

Wynn Resorts, Limited has also announced a cash dividend for investors. This cash dividend will be 50 cents per share. The dividend will be payable on May 23, 2017 to shareholders that are on record as of May 11, 2017.

WYNN stock was up 6% as of noon Wednesday and is up 45% year-to-date.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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