Business
Crown Resorts (ASX:CWN) share price rises despite earnings hit
Crown Resorts Ltd (ASX: CWN) shares opened higher today despite the casino operator reporting a significant earnings hit in its FY21 half-year results (1H FY21). Soon after open, the Crown share price quickly lost ground, only to recover again to its current level of $9.80, up 1.14% for the day so far.
Here’s a summary of how Crown has been performing.
Crown share price resilient despite revenue falls
The Crown share price is holding its own today regardless of the company reporting a 62.1% drop in statutory revenue to $581 million for the reporting period.
Operating cash flow also tumbled from $419.1 million in 1H FY20 to $72.3 million in 1H FY21.
Earnings before interest, tax, depreciation and amortisation (EBITDA) took a…
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