The big news here is Las Vegas Sands reporting adjusted earnings per share of 29 cents alongside revenue of $2.12 billion. Both of those are better than Wall Street’s estimates of 20 cents per share and revenue of $1.83 billion.
Investors will also keep in mind that Las Vegas Sands’ earnings per share and revenue increased year-over-year (YOY). Q1 2022 EPS came in at -41 cents while the company’s revenue for the quarter was $943 million.
What’s Behind the Strong Earnings Report?
Robert Goldstein, chairman and CEO of Las Vegas Sands, provides the following insight into the company’s earnings:
“While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, a robust recovery in travel and tourism spending across our markets is now underway. In Macao, we were pleased to see the ongoing recovery now underway in all gaming and non-gaming segments accelerate during the quarter.”
Investors are reacting well to today’s news with heavy trading of LVS stock. As of this writing, more than 6.3 million shares of the company’s stock have changed hands. That’s already above the company’s daily average trading volume of about 4.7 million shares.
LVS stock is up 6.2% as of Thursday morning and is up 27.7% since the start of the year.
Investors seeking more of the most recent stock market news will want to keep reading!
We’ve got all of the hottest stock market coverage traders need to get through Thursday! Among that is what has shares of Bed Bath & Beyond (NASDAQ:BBBY), Coinbase (NASDAQ:COIN), and Microsoft (NASDAQ:MSFT) stock in the news today. We’ve got all of the details for these stories ready to go below!
More Thursday Stock Market News
- Dear BBBY Stock Fans, Mark Your Calendars for April 22
- COIN Stock Alert: What to Know as Coinbase Secures Bermuda License
- MSFT Stock Alert: Why Elon Musk Just Threatened to Sue Microsoft
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.