Melco Resorts Posts Higher Q1 Profit As Revenue Rises 11%

(RTTNews) - Melco Resorts & Entertainment Limited (MLCO), Thursday reported net income attributable to the company of $32.5 million for the first quarter ended March 31, up from $15.2 million a year earlier.

Earnings per share were $0.03, compared to $0.01 in the prior-year quarter. Total operating revenues rose 11 percent to $1.23 billion from $1.11 billion, driven by growth in casino, room, and food and beverage revenue.

Operating income increased to $144.9 million from $125.4 million. Net non-operating expenses decreased slightly to $112.5 million from $121.1 million, contributing to the bottom-line improvement.

MLCO is currently trading at $5.78, up $0.14 or 2.39 percent on the Nasdaq.