Investors Take A Vacation On MGM After Posting Nearly Double Per Share Loss Since Last Year

MGM Resorts International MGM beat sales consensus in a fourth-quarter report released Thursday morning, but posted a fourth-quarter adjusted loss per share of $0.01 when the Street was expecting gains of $0.08 per share. Revenues came in at $2.37 billion over analysts' figure of $2.25 billion.

GAAP loss per share came to $1.38, nearly twice the loss per share of the previous year's fourth quarter of $0.70.

CEO Jim Murren called 2015 a "a very successful [year]" for the company, writing that the company was on track for a 30 percent margin increase by next year and that "targeted growth investments, combined with the increased profitability at our existing operations, establish a platform for sustainable, long-term growth."

Revenue per domestic room increased 10 percent compared to the same quarter in 2014. The company recorded a 1 percent increase in occupancy rates year-over-year.

Investors were not pleased with the lack of earnings, however, with MGM shares down more than 5 percent at $18.94 at time of writing.