Penn National Gaming, Inc. (PENN) reported that its first-quarter net income decreased to $65.27 million or $0.63 per share, from $78.62 million or $0.74 per share last year. Profit per share excluding items was $0.69 compared to $0.73 prior year. Net revenues rose to $798.25 million from $736.06 million last year.
On average, 19 analysts polled by Thomson Reuters expected the company to report profit of $0.65 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $804.34 million for the quarter.
Penn National Gaming established second quarter guidance and updated its full year 2013 guidance. The company expects second-quarter profit per share of $0.68 on revenue of $793.2 million. The company now expects full year 2013 profit per share of $2.56 on revenue of $3.14 billion. The company's prior guidance was for 2013 profit per share of $2.47 on revenue of $3.15 billion.
Analysts expect the company to report second-quarter profit per share of $0.65 on revenue of $804.41 million. Analysts expect the company to report fiscal 2013 profit per share of $2.50 on revenue of $3.17 billion.
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