Las Vegas Sands Corp. LVS shares are trading higher in Wednesday's after-hours session following the release of the company's fourth-quarter earnings report.
What To Know: Las Vegas Sands reported quarterly adjusted earnings of 57 cents per share, missing the analyst consensus estimate of 61 cents, a 400% increase over losses of 19 cents per share from the same period last year.
The company reported quarterly sales of $2.92 billion, exceeding the analyst consensus estimate of $2.90 billion, a 160.97% increase over sales of $1.12 billion from the same period last year.
It is also worth noting that consolidated adjusted property EBITDA was $1.20 billion, compared to $222 million in the same period last year. Also, unrestricted cash balances were $5.11 billion as of Dec. 31.
"We were extremely pleased with our financial and operating results for the quarter, which reflect the ongoing improvement in the operating environment in both Macao and Singapore. We remain deeply enthusiastic about our opportunities for growth in both Macao and Singapore in the years ahead," said Robert G. Goldstein, chairman and CEO.
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LVS Price Action: Shares of LVS were up 2.64% at $50.95 in the after-hours session at the time of publication, according to Benzinga Pro.
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