Q4 25 EPS
$1.60
BEAT +187.36%
Est. $0.56
Q4 25 Revenue
$4.61B
BEAT +3.67%
Est. $4.44B
vs S&P Since Q4 25
+24.8%
BEATING MARKET
MGM +31.1% vs S&P +6.3%
Full Year 2025 Results
FY 25 EPS
$3.31
BEAT +46.38%
Est. $2.26
FY 25 Revenue
$17.54B
BEAT +0.92%
Est. $17.38B
Market Reaction
Did MGM Beat Earnings? Q4 2025 Results
MGM Resorts International delivered a blowout fourth quarter, posting adjusted EPS of $1.60 against a consensus estimate of $0.61, a beat of 160.37%, while revenue climbed 6.0% year-over-year to $4.61 billion, topping expectations of $4.44 billion by… Read more MGM Resorts International delivered a blowout fourth quarter, posting adjusted EPS of $1.60 against a consensus estimate of $0.61, a beat of 160.37%, while revenue climbed 6.0% year-over-year to $4.61 billion, topping expectations of $4.44 billion by 3.62%. The headline driver was a combination of surging international momentum and improving digital economics; MGM China posted 21% revenue growth and 30% Adjusted EBITDAR expansion on the strength of its premium mass position in Macau, while BetMGM swung to positive operating income of $29.34 million from a loss of $42.30 million a year earlier and distributed $135.00 million back to the parent. A $277.00 million non-cash tax benefit also lifted net income to $293.61 million, nearly double the year-ago figure. Las Vegas Strip revenues slipped 3% amid MGM Grand renovation activity, though management expects that headwind to clear ahead of 2026, with group bookings, continued China momentum, and double-digit BetMGM growth underpinning an optimistic forward outlook, even as broader leisure competition intensifies across the experiential spending landscape.
Key Takeaways
- • MGM China premium mass gaming leadership drove 21% revenue growth and 30% Adjusted EBITDAR growth
- • MGM Digital revenue grew 35% year-over-year with narrowing losses
- • BetMGM North America Venture swung to operating income of $29.3 million from a loss of $42.3 million
- • Las Vegas Strip casino revenue grew 13% despite hotel revenue pressure from MGM Grand renovations
- • Table games win percentage at Las Vegas improved to 27.9% from 24.5%
- • Aggressive share repurchase program reducing diluted share count
MGM YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
MGM Revenue by Segment
With YoY comparisons, source: SEC Filings
“MGM Resorts once again saw the benefit of a diversified operational strategy, delivering Consolidated Adjusted EBITDA growth of 20% in the fourth quarter despite headwinds in Las Vegas.”
— Bill Hornbuckle, Q4 2025 Earnings Press Release
MGM Earnings Trends
MGM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MGM EPS Trend
Earnings per share: estimate vs actual
MGM Revenue Trend
Quarterly revenue: estimate vs actual
MGM Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.53 | $0.49 | -7.83% | $4.45B | +1.79% |
| Q4 25 BEAT FY | $0.56 | $1.60 | +187.36% | $4.61B | +3.67% |
| FY Full Year | $2.26 | $3.31 | +46.38% | $17.54B | +0.92% |
| Q3 25 MISS | $0.30 | $0.24 | -19.84% | $4.25B | +0.30% |
| Q2 25 BEAT | $0.55 | $0.79 | +42.70% | $4.40B | +2.03% |
| Q1 25 BEAT | $0.46 | $0.69 | +51.45% | $4.28B | -0.16% |