Caesars Entertainment Earnings: Here’s Why Investors are Selling Shares Now
Caesars Entertainment Corp (NASDAQ:CZR) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 8.71%.
Caesars Entertainment Corp Earnings Cheat Sheet
Revenue: Decreased 7.15% to $2.02 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: reported adjusted EPS loss of $3.75 per share. By that measure, the company missed the mean analyst estimate of $-2.04. It missed the average revenue estimate of $2.11 billion.
Quoting Management: “The fourth quarter capped a year that was marked by significant progress on our strategy to reinvigorate our core business, expand our domestic distribution network, pursue growth online and internationally and continue to improve the company’s capital structure,” said Gary Loveman, chairman, chief executive officer and president of Caesars Entertainment Corporation.
Key Stats (on next page)…