Las Vegas Sands Jumps More Than 6% on Q4 Results
Las Vegas Sands (NYSE: LVS) released its fiscal fourth-quarter earnings results after the closing bell on Wednesday. In the wake of the results, LVS was trading up nearly 6 percent in the after hours session to $54.55.
The company reported adjusted net income of $450.5 million or $0.54 per share, compared to $460.9 million or $0.57 per share, in the year ago period. This missed Wall Street analysts' consensus EPS estimates of $0.59.
Net revenue in the period was $3.08 billion an increase of almost 21% versus the $2.54 billion that Las Vegas Sands reported in last year's fourth-quarter. This beat analysts' consensus revenue estimates of $3.01 billion.
Las Vegas Sands said that its board of directors approved an increase of its dividend by 40 percent to $0.35 per share or $1.40 per share on an annual basis. The company also paid a special dividend of $2.75 per share in the fourth-quarter.
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