Shares of Las Vegas Sands (LVS) surged 5.77% in after-hours trading on Wednesday following the release of its second-quarter earnings report, which significantly outperformed analysts' expectations across all key metrics.
The casino and resort operator reported adjusted earnings per share of $0.79 for Q2, handily beating the consensus estimate of $0.53. This represents a 49.34% surprise to the upside and a 43.64% increase from the same period last year. Revenue for the quarter came in at $3.175 billion, surpassing analysts' projections of $2.831 billion by 12.38% and marking a 14.99% year-over-year increase.
Las Vegas Sands' impressive performance extended to its operating profit, which reached $783 million, considerably higher than the estimated $627.7 million. The company's net income for the quarter stood at $519 million, further underlining its strong financial position. These results demonstrate Las Vegas Sands' ability to capitalize on the recovering global tourism and gaming markets, particularly in its key operating regions of Macau and Singapore.
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