Las Vegas Sands (LVS) stock slips despite earnings, revenue beat in Q1

Las Vegas Sands Corp. (NYSE: LVS) reported first-quarter earnings and revenue that topped analyst expectations.

The company posted earnings per share (EPS) of $0.75, beating the consensus forecast of $0.61. Revenue came in at $2.96 billion, slightly above the consensus projection of $2.94 billion.

The adjusted property EBITDA was reported at $1.21 billion, marking a 53% increase year-over-year, against an anticipated $1.19 billion.

Capital expenditures for the quarter were $196 million, up 18% from the previous year, notably lower than the expected $322.5 million.

Las Vegas Sands said it repurchased approximately $450 million of its common stock during the quarter.

"We were pleased with our financial and operating results for the quarter, which reflect strong growth in both Macao and Singapore,” said Robert G. Goldstein, chairman and CEO.

“We remain deeply enthusiastic about our opportunities to deliver industry-leading growth in both markets in the years ahead, as we execute our substantial capital investment programs in both Macao and Singapore,” he added.

By Vahid Karaahmetovic

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