MGM Holdings on Thursday reported revenue for the third quarter that was improved compared with the same period a year ago, but the company’s net income fell far short of last year’s mark.
In a filling on its investor relations website, MGM, which is a privately held company, said that revenue for the quarter ending Sept. 30 hit $380.2 million, up from $267.7 million during the same quarter last year.
The company’s net income, however, was $25.3 million, which was a decline compared with the $114.2 million in profits the company reported last year.
Also Read: MGM Partners With Lantern Entertainment to Develop, Distribute 'Boys in the Boat'
During the company’s third-quarter conference call with executives, however, which was previously recorded and posted later on Thursday, MGM chief financial officer Kenneth Kay said that the quarter’s results reflect “the investments we are making in long-term growth and value creation.”
He...
In a filling on its investor relations website, MGM, which is a privately held company, said that revenue for the quarter ending Sept. 30 hit $380.2 million, up from $267.7 million during the same quarter last year.
The company’s net income, however, was $25.3 million, which was a decline compared with the $114.2 million in profits the company reported last year.
Also Read: MGM Partners With Lantern Entertainment to Develop, Distribute 'Boys in the Boat'
During the company’s third-quarter conference call with executives, however, which was previously recorded and posted later on Thursday, MGM chief financial officer Kenneth Kay said that the quarter’s results reflect “the investments we are making in long-term growth and value creation.”
He...
- 11/15/2018
- by Trey Williams
- The Wrap
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