Las Vegas Sands Moves Higher on Q2 Earnings Results

Shares of Las Vegas Sands LVS are trading higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 4.92%, trading at $48.58; they ended the regular session higher by 0.26%, at $46.30. Las Vegas Sands reported Q2 EPS of $0.54 on revenues of $2.35 billion; the Street was looking for $0.44 per share on revenues of $2.21 billion. Revenues increased 47.1% year over year. In Macau, Las Vegas Sands experienced increased gaming volumes in their Sands China property portfolio, while adjusted property EBITDA margin expanded to reach a market-leading 33.0%. In Singapore, Marina Bay Sands produced a record $405.4 million of adjusted property EBITDA during the quarter and an EBITDA margin of 55.0%. In Las Vegas, The Venetian and Palazzo generated $92.9 million in adjusted property EBITDA during the quarter. Capital expenditures during the second quarter totaled $388.2 million, including construction and development activities of $146.3 million at Marina Bay Sands, $211.4 million in Macau, $17.9 million at Sands Bethlehem, and $12.6 million in Las Vegas.