Melco Crown Entertainment Limited (MPEL) has reported an 86.86 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $62.04 million, or $0.04 a share in the quarter, compared with $33.20 million, or $0.02 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $62.80 million, or $0.04 a share compared with $59.93 million or $0.04 a share, a year ago.
Revenue during the quarter grew 21.87 percent to $1,152.55 million from $945.73 million in the previous year period. Gross margin for the quarter expanded 111 basis points over the previous year period to 32.02 percent. Total expenses were 90.55 percent of quarterly revenues, down from 96.40 percent for the same period last year. This has led to an improvement of 585 basis points in operating margin to 9.45 percent.
Operating income for the quarter was $108.94 million, compared with $34.07 million in the previous year period.
Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, "We delivered a 22% year-over-year increase in Adjusted property EBITDA during the third quarter of 2016, driven by greater contributions from Studio City and City of Dreams Manila."
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