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SeaWorld Entertainment stock price
SeaWorld Entertainment latest news:
SeaWorld reports down third-quarter earnings below expectations
SeaWorld Entertainment Inc. reported third-quarter earnings on Tuesday that were below Wall Street expectations. Net income for the quarter was $55.03 million, or 64 cents per share, down from $65.66 million, or 77 cents per share during the same quarter a year ago. FactSet's per-share earnings consensus was 80 cents. SeaWorld revenue was $437.71 million, down from $485.32 in the year-earlier period, and below FactSet's $457.00 million revenue consensus. SeaWorld said that park attendance during the quarter fell by 732,000 guests year-over-year. Shares of SeaWorld were inactive in premarket trade. The company said it implemented a cost savings and restructuring plan that will see 350 jobs cut. SeaWorld plans to meet its goal of $40 million in net cost savings by the end of 2018. Shares of SeaWorld have declined nearly 41% in the year to date, while the S&P 500 index is up close to 16% and the Dow Jones Industrial Average is up more than 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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