UPDATE: Six Flags Posts Better-Than-Expected Q2 Profit

Six Flags Entertainment

reported a better-than-expected second-quarter profit. The Grand Prairie, Texas-based company posted a quarterly profit of $85.3 million, or $0.67 per share, versus a year-ago profit of $47.4 million, or $0.47 per share. Its revenue gained 4% to $377 million. However, analysts were expecting earnings of $0.64 per share on revenue of $395.2 million. Adjusted EBITDA rose 5% to $145 million. Cash earnings per share for the twelve-month period came in at $2.23 per share. Its attendance fell 8%, while spending per guest rose 11% to $43.73. Jim Reid-Anderson, Chairman, President and CEO said, "We are squarely focused on executing our long-term strategy and remain confident in our ability to deliver yet another record year in 2014." Six Flags shares closed at $41.00 on Friday.