Las Vegas Sands Corp. (NYSE:LVS) reported net income above Wall Street’s expectations for the most recent quarter. Las Vegas Sands Corp. develops integrated resorts worldwide. It owns and operates The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino and an expo and convention center.
Las Vegas Sands Corp Earnings Cheat Sheet for the Second Quarter
Results: GAAP Net income for Las Vegas Sands Corp. was $367.6 million (45 cents per share) vs. a loss of $4.7 million (loss of one cent per share) in the same quarter a year earlier.
Revenue: Rose 47.1% to $2.35 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: LVS reported adjusted net income of 54 cents per share. By that measure, the company beat the mean estimate of 44 cents per share. It beat the average revenue estimate of $2.21 billion.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 56%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 67.3% from the year earlier quarter.
The company topped expectations last quarter after falling short of forecasts in the first quarter with net income of 37 cents versus a mean estimate of net income of 45 cents per share.
Competitors to Watch: MGM Resorts International. (NYSE:MGM), Wynn Resorts, Limited (NASDAQ:WYNN), Melco Crown Entertainment Ltd (NASDAQ:MPEL), Boyd Gaming Corporation (NYSE:BYD), Century Casinos, Inc. (NASDAQ:CNTY), and Ameristar Casinos, Inc. (NASDAQ:ASCA).
(Source: Xignite Financials)