Las Vegas Sands misses Street 1st-quarter forecasts
Apr. 20, 2016
LAS VEGAS (AP) — Las Vegas Sands Corp. shares sank in extended trading Wednesday after the casino operator reported a disappointing first-quarter profit and said operations in Macau remain challenging.
The company said after the market closed that it earned $320.2 million, or 40 cents per share, for the most recent quarter. Earnings, adjusted for non-recurring costs, were 45 cents per share. That missed market expectations of 61 cents per share, according to Zacks Investment Research.
Revenue of $2.72 billion in the period, also fell short of analyst expectations of $2.88 billion.
A year earlier, the Las Vegas-based company earned $511.9 million, or 64 cents per share, on revenue of $3.01 billion.
Las Vegas Sands shares closed at $52.18 and fell more than 6 percent after hours following the report.
Elements of this story were 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
Keywords: Las Vegas Sands, Earnings Report