Shares of Six Flags Entertainment Corp. SIX, -3.92% dove 4.7% in premarket trading Thursday, after the theme park operator reported third-quarter profit and revenue that missed expectations, as rising ticket prices led to a drop in attendance, which more than offset an increase in guest spending. Net income fell to $115.8 million, or $1.39 a share, from $157.2 million, or $1.83 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.59. Revenue declined 20.
7 million, hurt by an increase in ticket prices and the elimination of free tickets and heavily discounted offerings. Admissions spending per capita increased 21.7% to $34.93, below expectations of $36.70, and in-park spending per capita rose 11.6% to $26.03.
Companies don't get it! You can't keep on raising prices...you need to contain expenses and be more efficient
Now it's 5 Flags.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: hackernoon - 🏆 532. / 51 Read more »