Shares of casino operator Las Vegas Sands Corp.
LVS,
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.
