Las Vegas Sands Corp. (LVS) has released its latest quarterly financial results, posting adjusted earnings of $1.04 per share and revenues of $3.58 billion.
Chairman and CEO Sheldon Adelson said, “The power of our unique convention-based Integrated Resort business model was once again on display during the quarter, with record quarterly financial results achieved in Macao, Singapore and Las Vegas. We also continued to invest in growth initiatives in each of our markets while returning excess capital to shareholders,”
The company revealed adjusted earnings of $1.04 per share, beating the Zacks Consensus Estimate of $0.86. LVS revenue was $3.58 billion, well beyond the consensus estimate of $3.36 billion. Total revenue was up 16.7%.
Net income increased 179.1% to $1.62 billion in the first quarter. Consolidated adjusted property EBITDA increased 30.7% to $1.50 billion. In Macao, adjusted property EBITDA surged 26% to $789 million.