Las Vegas Sands Beats Wall Street Estimates
Leading global gaming company Las Vegas Sands (NYSE: LVS) released its first quarter earnings results after the closing bell on Wednesday. The company reported GAAP net income attributable to common stockholders of $498.9 million or $0.61 per share, compared to $228.2 million or $0.28 per share, in the year ago period.
On an adjusted basis, net income for the quarter was $569.8 million or $0.70 per share, compared to $299.4 million or $0.37 per share, in last year's first quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.60.
Net revenues in the period were $2.76 billion, an increase of 30.8% over the $2.11 billion that Las Vegas Sands reported a year ago. This also exceeded Street consensus estimates of $2.62 billion.
In addition, Las Vegas Sands' board of directors declared a $0.25 per share cash dividend to be paid on June 20 to shareholders of record as of June 20, 2012.
In Wednesday's after hours trading session, LVS shares have lost 0.73% to $58.35 in the wake of the company's Q1 report. During regular market hours, LVS surged 4.22% and closed at $58.78.
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