AP News

Earnings roundup: MGM Resorts, Tesla Motors


Among the earnings stories for Wednesday, Feb. 20, from the AP Financial Desk:

Top stories:

LAS VEGAS (AP) — MGM Resorts International reported a bigger loss for its fourth quarter, as customers spent less on food and entertainment and the casino company booked big charges to write down the value of some land in Las Vegas and Atlantic City.

DETROIT (AP) — Electric car maker Tesla Motors Inc. said Wednesday that its fourth-quarter net loss grew by 10 percent due to higher costs during the production start for the new Model S.

Other stories:

OKLAHOMA CITY (AP) — Devon Energy Corp. on Wednesday posted a fourth-quarter loss due to an $896 million write-down related to its value of its gas and oil assets, but its adjusted results beat market expectations.

NORWELL, Mass. (AP) — Environmental services company Clean Harbors Inc. said Wednesday its fourth-quarter net income rose 62 percent, helped by a hefty tax benefit.


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