Wynn Resorts Swings to Profit

Wynn Resorts returns to profit in the first quarter, easily topping estimates.
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NEW YORK (

TheStreet

) --

Wynn Resorts

(WYNN) - Get Report

swung to profit in its first quarter, significantly beating Wall Street's estimates.

The news sent shares surging 5.6% to $93.74 in after-market trading.

During the quarter, the casino operator earned $27 million, or 22 cents a share, compared with a loss of $33.8 million, or 30 cents, in the year-ago period. Analysts were calling for earnings of 14 cents a share.

Revenue shot up 23% to $908.9 million from $740 million last year, better than estimates of $849.8 million.

-- Reported by Jeanine Poggi in New York.

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