: Las Vegas Sands says a ‘robust’ recovery from travel restrictions is underway in Macau, Singapore and elsewhere


Shares of casino operator Las Vegas Sands Corp. LVS, +0.02% jumped 4.9% after hours on Wednesday, after the company reported first-quarter results that beat expectations and called out a “robust” recovery in Macau and Singapore. The company reported net income of $145 million, or 19 cents a share, compared with $2.43 billion, or $3.31 a share, in the same quarter last year. Sales were $2.12 billion, up from $943 million in the prior-year quarter. Adjusted for expenses related to development and other matters, Las Vegas Sands earned 28 cents a share, contrasting with a 40-cent per-share loss a year ago. Analysts polled by FactSet expected adjusted earnings per share of 20 cents on revenue of $1.85 billion. “While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, a robust recovery in travel and tourism spending across our markets is now underway,” Chief Executive Robert Goldstein said in a statement.  

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleMarket Extra: Investors scour markets for recession signs. Here’s what this closely watched credit gauge says.
Next articleSupreme Court extends access to abortion pill mifepristone through Friday


Please enter your comment!
Please enter your name here