Las Vegas Sands Beats Wall Street Estimates

Leading global gaming company Las Vegas Sands 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.