Tags: Las-Vegas | Sands | Earnings | Estimates

Las Vegas Sands Earnings Top Estimates

Wednesday, 01 May 2013 07:20 PM

Casino operator Las Vegas Sands Corp., owned by billionaire Sheldon Adelson, on Wednesday posted better-than-expected first-quarter earnings, helped by good results in Macau, and its shares rose.

Sands said first-quarter net revenue rose 19.5 percent to $3.3 billion, net income rose 14.6 percent to $572.0 million, and earnings per share rose 13.1 percent to 69 cents a share.

On an adjusted basis, earnings rose to 71 cents from 70 cents a share. Analysts, on average, had expected Sands to post adjusted earnings of 66 cents, according to consensus estimates compiled by ThomsonReuters I/B/E/s.

The company's shares rose 1.69 percent to $57.20 a share in after hours trade from its close of $56.25 on Wednesday.

Sands said its Sands China Ltd Hong Kong listed unit and Macau casino operator, saw net income increase 63.3 percent to $452.9 million in the first quarter.

Revenue rose 39.3 percent to $2.02 billion in the quarter.

© 2017 Thomson/Reuters. All rights reserved.

 
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Casino operator Las Vegas Sands Corp., owned by billionaire Sheldon Adelson, on Wednesday posted better-than-expected first-quarter earnings, helped by good results in Macau, and its shares rose.
Las-Vegas,Sands,Earnings,Estimates
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2013-20-01
Wednesday, 01 May 2013 07:20 PM
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