MGM Resorts

MGM · Consumer Discretionary · Market cap $11.5B

Q2 FY26 Apr 1 – Jun 30, 2026 reported Jul 29, 2026

Revenue$4.5B +1% year over year

Gross profit$3.1B

Operating profit$0.5B

Net profit$0.3B 7% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item	Value	Share of revenue	Year over year
Revenue	4.5	100%	+1%
Casino	2.4	53%	+2%
Occupancy	0.8	18%	−1%
Food and Beverage	0.8	18%	+3%
Entertainment Retail and Other	0.4	9%	−5%
Cost of revenue	−1.3	29%
Gross profit	3.1	70% margin	+0pp
SG&A	−1.3	28%	+1pp
Other	−1.3	30%	+0pp
Operating profit	0.5	11% margin	+2pp
Tax	−0.1
Interest & other costs	−0.1
Net profit	0.3	7%	+5pp

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	4.5	100%	+4%
Casino	2.4	53%	+6%
Occupancy	0.9	20%	+1%
Food and Beverage	0.8	18%	+5%
Entertainment Retail and Other	0.4	9%	+3%
Cost of revenue	−1.3	29%
Gross profit	3.1	70% margin	−1pp
SG&A	−1.3	29%	+2pp
Other	−1.5	34%	+0pp
Operating profit	0.3	7% margin	−2pp
Interest & other costs	−0.2
Net profit	0.1	3%	−1pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	4.6	100%	+6%
Casino	2.6	57%	+16%
Occupancy	0.9	20%	−9%
Food and Beverage	0.7	15%	+0%
Entertainment Retail and Other	0.4	9%	−4%
SG&A	−1.3	27%	−1pp
Other	−3	66%	+0pp
Operating profit	0.3	7% margin	+0pp
Interest & other costs	−0.3
Net profit	0.3	6%	+3pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	4.3	100%	+2%
Casino	2.3	53%	+8%
Occupancy	0.8	19%	−10%
Food and Beverage	0.7	16%	−1%
Entertainment Retail and Other	0.4	9%	−2%
Cost of revenue	−1.3	30%
Gross profit	2.9	69% margin	−2pp
SG&A	−1.2	29%	+1pp
Other	−1.8	42%	+0pp
Operating profit	-0.1	-3% margin	−10pp
Interest & other costs	−0.2
Net profit	-0.3	-7%	−11pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	4.4	100%	+2%
Casino	2.3	52%	+5%
Occupancy	0.9	20%	−4%
Food and Beverage	0.8	18%	−3%
Entertainment Retail and Other	0.4	9%	+6%
Cost of revenue	−1.3	30%
Gross profit	3.1	70% margin	−2pp
SG&A	−1.2	28%	+0pp
Other	−1.5	33%	+0pp
Operating profit	0.4	9% margin	−1pp
Interest & other costs	−0.4
Net profit	0	1%	−3pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q2 FY26	Apr 1 – Jun 30, 2026	Jul 29, 2026	$4.5B	+1%	11%	$0.3B	7%
Q1 FY26	Mar 31, 2026	Apr 29, 2026	$4.5B	+4%	7%	$0.1B	3%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 11, 2026	$4.6B	+6%	7%	$0.3B	6%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 29, 2025	$4.3B	+2%	-2%	$-0.3B	-7%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 30, 2025	$4.4B	+2%	9%	$0B	1%