Las Vegas Sands: 4Q Earnings Snapshot
LAS VEGAS (AP) _ Las Vegas Sands Corp. (LVS) on Wednesday reported a fourth-quarter loss of $170 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Las Vegas-based company said it had a loss of 22 cents. Earnings, adjusted for pretax expenses and asset impairment costs, were 77 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The casino operator posted revenue of $3.48 billion in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $3.5 billion.
For the year, the company reported profit of $2.41 billion, or $3.07 per share. Revenue was reported as $13.73 billion.
Las Vegas Sands shares have increased 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $57.25, a decrease of 26 percent in the last 12 months.