Las Vegas Sands stock falls, as travel rebound abroad not enough to push results past expectations

Shares of Las Vegas Sands Corp. LVS fell after hours on Wednesday, after the casino operator reported second-quarter results that missed expectations, despite a broader rebound in tourism spending at its properties in Singapore and Macau. The company reported net income of $368 million, or 41 cents a share, contrasting with a loss of $417 million, or 38 cents a share, in the same quarter last year. Revenue more than doubled to $2.54 billion, compared with $1.05 billion in the prior-year quarter.

LVS fell after hours on Wednesday, after the casino operator reported second-quarter results that missed expectations, despite a broader rebound in tourism spending at its properties in Singapore and Macau. The company reported net income of $368 million, or 41 cents a share, contrasting with a loss of $417 million, or 38 cents a share, in the same quarter last year. Revenue more than doubled to $2.54 billion, compared with $1.05 billion in the prior-year quarter.

Source: Holiday News (holidaynews.net)

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