Las Vegas Sands (NYSE:LVS) just released its Q2 2016 earnings results, posting earnings of $0.52 per share and revenue of $2.65 billion.
Currently, LVS has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.
Las Vegas Sands:
Missed earnings estimates. The company posted earnings of $0.52 per share (Excluding $0.11 from non-recurring items), missing our Zacks Consensus Estimate of $0.56.
Missed revenue estimates. The company saw revenue figures of $2.65 billion, missing our estimate of $2.74 billion.
“The operating environment in Macao remained challenging during the quarter; but we do see signs of stabilization, particularly in the mass market,” said chairman and CEO Sheldon G. Adelson. He continued, stating that “We remain steadfast in our focus on the consistent execution of our proven global growth strategy, which leverages the power of our unique convention based Integrated Resort business model.”
Mass gaming revenues in June of 2016 increased versus the same time last year, representing the first year-on-year monthly mass gaming growth that the company has experienced in nearly two years.
LVS was up $0.30, or 0.63%, to $48.10 as of 4:49 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Las Vegas Sands’ latest earnings performance:
LAS VEGAS SANDS Price and EPS Surprise
LAS VEGAS SANDS Price and EPS Surprise | LAS VEGAS SANDS Quote
Las Vegas Sands Corp. is a hotel, gaming, and retail mall company headquartered in Las Vegas, Nevada. The company owns The Venetian Resort Hotel Casino, the Sands Expo and Convention Center, Venetian Interactive, an internet based venture, and Venetian Macao Limited, a developer of multiple casino hotel resort properties in The People's Republic of China's Special Administrative Region of Macao.
Check back later for our full analysis on Las Vegas Sands’ latest quarterly earnings report!
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LAS VEGAS SANDS (LVS): Free Stock Analysis Report
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