Similar companies
Income Statement (USD)
Q2 '24 | QoQ | |
---|---|---|
Revenue | 4.33B | 1% |
Gross Profit | 2.92B | 1.1% |
Cost of Revenue | 1.4B | 0.8% |
Operating expense | 1.4B | 0.5% |
Net Income | 187M | 14% |
EBITDA | 618M | 8.8% |
Balance Sheet (USD)
Q2 '24 | QoQ | |
---|---|---|
Total Assets | 41.8B | 0.6% |
Total Liabilities | 38.6B | 0.1% |
Total Equity | 3.21B | 7.1% |
Shares Outstanding | 305M | 3.2% |
Cash Flow (USD)
Q2 '24 | QoQ | |
---|---|---|
Cash from operations | 474M | 13.7% |
Cash from investing | -277M | 155.5% |
Cash from financing | -494M | 21.4% |
EPS
Financial Highlights for MGM Resorts in Q2 '24
MGM Resorts reported a revenue of 4.33B, which is a 1% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 2.92B, marking a 1.1% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.4B, a 0.8% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 1.4B, showing a -0.5% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 187M, showing a -14% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 618M, showing a 8.8% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
MGM Resorts faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income.