Las Vegas Sands Beats Earnings Estimates As Singapore, Macau Drive Revenue Growth
Casino operator Las Vegas Sands beat analysts' expectations for second-quarter profit and revenue on Wednesday, driven by strength in its Singapore and Macau businesses, sending its shares up 5.6% in premarket trading.
Total revenue rose 36% to $1.4 billion from its Singapore operations and 2.5% to $1.8 billion from its Macau operations, the company said.
"We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macau and Singapore as we realize the benefits from our recently completed capital investment programs in both markets," CEO Robert Goldstein.
The company posted a quarterly profit of 79 cents per share. Analysts on average were expecting a profit per share of 53 cents, according to data compiled by LSEG.
Total revenue for the quarter ended June 30 rose 15% to $3.18 billion from a year earlier. Analysts, on average, expected revenue of $2.83 billion in the second quarter, as per data compiled by LSEG.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Most Discussed
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10