Las Vegas Sands tops 4Q profit expectations, misses revenue forecasts

Industries Associated Press

LAS VEGAS (AP) — Las Vegas Sands Corp. (LVS) on Wednesday reported fourth-quarter net income of $721.3 million.

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On a per-share basis, the Las Vegas-based company said it had profit of 90 cents. Earnings, adjusted for non-recurring costs, came to 92 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The casino operator posted revenue of $3.42 billion in the period, which fell short of Street forecasts. Analysts expected $3.55 billion, according to Zacks.

For the year, the company reported profit of $2.84 billion, or $3.52 per share. Revenue was reported as $14.58 billion.

Las Vegas Sands shares have dropped slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.16, a decline of 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LVS at http://www.zacks.com/ap/LVS

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Keywords: Las Vegas Sands, Earnings Report