MGM Resorts International (NYSE:MGM) shares traded lower by 3.5% on Tuesday after the company reported first-quarter earnings and revenue beats but a quarterly drop in Las Vegas Strip occupancy.
On Monday, MGM reported adjusted first-quarter EPS of 1 cent, exceeding analyst estimates of an 8-cent loss. Revenue for the quarter was $2.9 billion, slightly ahead of analyst expectations of $2.8 billion. Revenue was up 73.2% from a year ago.
