Las Vegas Sands (LVS) stock surged 9.59% in the trading session on Thursday, following the release of the company's impressive fourth-quarter 2024 results and positive outlook for its key markets of Singapore and Macao.
The casino operator reported revenue of $2.9 billion for the quarter, exceeding analysts' expectations of $2.87 billion. This strong performance was primarily driven by the outstanding financial and operating results at Marina Bay Sands in Singapore, where LVS experienced robust growth across its gaming and non-gaming segments.
While LVS missed earnings estimates, with an adjusted EPS of $0.54 versus the consensus forecast of $0.60, the company's CEO Robert Goldstein expressed enthusiasm about the opportunities to deliver industry-leading growth in both Macao and Singapore in the years ahead. The company's strategic investments and capital programs in these key markets position it for long-term success, despite challenges faced in Macao related to the pandemic recovery.
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