NEW YORK (TheStreet) -- Melco Crown Entertainment (MPEL - Get Report) fell Thursday after the company reported second-quarter results that missed analysts' expectations and announced prosecutors had indicted its Taiwan office.
The company's net income declined 20% year-over-year to $143.6 million, or 26 cents a share, from $181 million, or 33 cents a share. Revenue fell 7% year-over-year to $1.2 billion from $1.3 billion. Analysts had expected earnings of 36 cents a share on revenue of $1.3 billion.
Total Macau gaming revenue also declined 3.6% in July.
Must Read: Warren Buffett's 25 Favorite Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts