Caesars Entertainment Corp. (CZR) shares rallied in Thursday's extended session after the casino operator announced an unexpected quarterly profit and announced the departure of its chief executive. Caesars reported it swung to third-quarter earnings of $110 million, or 14 cents a share, from a loss of $433 million, or $2.90 a share, a year earlier. Revenue rose to $2.19 billion versus $993 million. Analysts surveyed by FactSet had forecast a loss of 4 cents a share on revenue of $2.21 billion. Caesars also announced that CEO Mark Frissora is planning to leave the company on Feb. 8 and a committee has been formed to seek his successor. Caesars shares jumped 6.8% after hours.
-Sue Chang; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 01, 2018 16:43 ET (20:43 GMT)
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