Las Vegas Sands Stock Down on Q3 Adjusted Earnings Miss

LVS stock is down about 1% after the bell

Las Vegas Sands stock (NYSE:LVS) had an underwhelming hump day as the company reported its latest quarterly earnings results, which were below what analysts were calling for, sending shares down after hours on Wednesday.

Las Vegas Sands StockThe casino operator said that for its third quarter of fiscal 2018, it brought in a net income of $571 million, which amounted to roughly 73 cents per share. The figure marked a slight increase compared to its net income from the year-ago quarter, when it brought in earnings of $569 million, or 72 cents per share.

On an adjusted basis, the company brought in earnings of 77 cents per share, which is below the 81 cents per share that analysts polled by Refinitiv were calling for in their consensus estimate. Las Vegas Sands added that its net revenue for the period was up about 6.7% compared to the year-ago quarter, reaching $3.37 billion.

The figure was better than the Wall Street consensus estimate of $3.4 billion. Las Vegas Sands also said that it will increase its annual dividend for 2019 to $3.08, or 77 cents a share per quarter.

LVS stock was down about 2.6% during regular trading hours on Wednesday in anticipation of the company’s latest quarterly earnings results. The company’s underwhelming quarterly earnings showing contributed to reducing its stock value further after the bell as the stock declined nearly 1% late in the day.

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