Listen Online - Listen on Mobile Radio.com | Mobile App Info

Las Vegas Sands Posts Profit, Misses 4th Quarter Forecasts

LAS VEGAS (AP) — Las Vegas Sands Corp. (LVS) on Wednesday reported fourth-quarter profit of $509 million.

On a per-share basis, the Las Vegas-based company said it had net income of 64 cents. Earnings, adjusted for non-recurring gains, were 62 cents per share.

The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The casino operator posted revenue of $3.08 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $3.15 billion.

For the year, the company reported profit of $1.67 billion, or $2.10 per share. Revenue was reported as $11.41 billion.

Las Vegas Sands shares have risen 6 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.65, an increase of 45 percent in the last 12 months.

Comments

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Las Vegas

Introducing Your New Podcast Network Play.it
New CBS Local Sports

Listen Live