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Crown Resorts profit misses consensus by 32.2% in fiscal H1

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Crown Resorts profit misses consensus by 32.2% in fiscal H1

Crown Resorts Ltd. said its normalized net income for the fiscal first half ended Dec. 31, 2015, was 22 Australian cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.

EPS fell 16.4% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was A$162.6 million, a decrease of 16.4% from A$194.5 million in the year-earlier period.

Total revenue rose 10.1% on an annual basis to A$1.88 billion from A$1.71 billion, and total operating expenses rose 9.5% from the prior-year period to A$1.56 billion from A$1.42 billion.

Reported net income increased from the prior-year period to A$205.0 million, or 28 cents per share, from A$201.8 million, or 28 cents per share.