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Las Vegas Sands Q3 revenue tops estimates; boosts stock buyback plan to $2B

Published 10/18/2023, 04:45 PM
© Reuters
LVS
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Investing.com --  Las Vegas Sands reported Wednesday better-than-expected third-quarter revenue that was driven by a recovery in travel and tourism spending in Macao and Singapore.

Las Vegas Sands Corp (NYSE:LVS) jumped more than 4% following the report.

The casino operator reported adjusted Q3 EPS of $0.55 on revenue of $2.8 billion, compared with estimates of $0.55 on revenue of $2.72B. 

After reinstating its quarterly dividend last quarter, the company said it authorized increasing its stock buyback plan to $2 billion from $916 million, and extended the duration to Nov. 3, 2025.  

The company said it would resume its share repurchase program in Q4.

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