Las Vegas Sands Earnings: LVS Stock Surges on Earnings, Sales Beat
Las Vegas Sands (NYSE:LVS) posted its quarterly earnings results late in the day Wednesday and it was a doozy as the company’s earnings were well ahead of what analysts called for, while its revenue was also stronger than predicted, helping to lift LVS stock up more than 2% after hours.
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The Las Vegas-based casino and resort business announced that for its latest quarter, it brought in earnings of 91 cents per share on an adjusted basis, which was a decline from the year-ago quarter. However, the figure was 6 cents per share stronger than the 85 cents per share that analysts called for, according to a Zacks Investment Research survey.
Las Vegas Sands added that its revenue for the period came in at $3.65 billion, which is also stronger than the $3.51 billion that the Wall Street guidance called for, according to figures provided by Zacks.
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The company’s resorts include a number of entertainment options, gaming, accommodations, conventions, as well as exhibition facilities. You can also find restaurants, clubs, and an art and science museum in its Singapore locations. Sheldon Adelson is the majority owner and CEO of Las Vegas Sands.
LVS stock is up about 2.3% after the bell following a strong quarterly earnings performance from the casino and resort operator. Shares had been sliding close to 0.4% during regular trading hours as the company geared up to report its results for its latest period.
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