Las Vegas Sands Corp. (LVS) Goes Lower Despite Earnings Beat

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Las Vegas Sands Corp. (NYSE:LVS) stock was down on Thursday despite an earnings beat in its report for the first quarter of 2017.

Las Vegas Sands Corp. (LVS) Goes Lower Despite Earnings Beat

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Earnings per share reported by Las Vegas Sands Corp. in the first quarter of the year was 66 cents. This is up from its earnings per share of 47 cents that was reported during the same time last year. It also came in above Wall Street’s earnings per share estimate for the quarter of 61 cents.

Las Vegas Sands Corp. reported revenue of $3.11 billion for the first quarter of 2017. This is a 14.3% increase over its revenue of $2.72 billion that was reported during the first quarter of 2016. It also came in just above analysts’ revenue estimate of $3.10 billion for the first quarter of the year.

Operating income reported by Las Vegas Sands Corp. in the first quarter of the year was $763 million. This is higher than its operating income of $586 million that it reported in the same period of the year prior.

During the first quarter of 2017, Las Vegas Sands Corp. reported net income of $480 million. The resorts company reported net income of $320 million during the first quarter of the previous year.

Las Vegas Sands Corp. points out that is saw solid recovery from its Macao location on the Cotai Strip. This includes a 30% growth for its property portfolio, hotel capacity levels increasing by 440 basis points and a 17% increase to its mass gaming business.

Las Vegas Sands Corp. has also announced a quarterly cash dividend of 73 cents for investors. This dividend will be payable to shareholders on June 30, 2017. Stockholders must be on record as of June 22, 2017 to receive the dividend.

LVS stock was down slightly as of Thursday morning.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/las-vegas-sands-corp-earnings-lvs/.

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