An earlier version of this article misstated FactSet’s estimates. The article has updated with the correct estimates and corrected to say that Las Vegas Sands beat those estimates.
Casino operator Las Vegas Sands Corp.
LVS,
reported second-quarter results that beat expectations, amid a broader rebound in tourism spending at its properties in Singapore and Macau, but shares fell after hours on Wednesday. The company reported net income of $368 million, or 41 cents a share, contrasting with a loss of $417 million, or 38 cents a share, in the same quarter last year. Revenue more than doubled to $2.54 billion, compared with $1.05 billion in the prior-year quarter. Adjusted for pre-opening and development expenses and other matters, Las Vegas Sands earned 46 cents a share. Analysts polled by FactSet expected Las Vegas Sands to report adjusted earnings per share of 44 cents, on revenue of $2.4 billion. The company also reinstated its quarterly dividend at 20 cents a share. Shares fell 2.6% after hours.
Read the full article here
