Las Vegas Sands 2Q profit grows 27 percent to $671.4 million, misses forecast

Industries Associated Press

Las Vegas Sands Corp. (LVS) on Wednesday reported profit that rose 27 percent in its second quarter, but earnings missed analysts' expectations.

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The Las Vegas-based company reported net income of $671.4 million, or 83 cents per share, compared with $529.8 million, or 64 cents per share, in the same quarter a year ago.

Earnings, adjusted for non-recurring costs, came to 85 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.

The casino operator said revenue climbed 12 percent to $3.62 billion from $3.24 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $3.78 billion, according to Zacks.

Las Vegas Sands shares fell $1.70, or 2.3 percent, to $72.10 in aftermarket trading. They have dropped $5.07, or 6.4 percent, to $73.80 since the beginning of the year. However, the stock has climbed $18.81, or 34 percent, in the last 12 months.


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Keywords:Las Vegas Sands,Earnings Report