Shares of Las Vegas Sands Corp.
LVS,
fell after hours on Wednesday, after the casino operator reported second-quarter results that missed expectations, despite a broader rebound in tourism spending at its properties in Singapore and Macau. The company reported net income of $368 million, or 41 cents a share, contrasting with a loss of $417 million, or 38 cents a share, in the same quarter last year. Revenue more than doubled to $2.54 billion, compared with $1.05 billion in the prior-year quarter. Adjusted for pre-opening and development expenses and other matters, Las Vegas Sands earned 46 cents a share. Analysts polled by FactSet expected Las Vegas Sands to report adjusted earnings per share of 54 cents, on revenue of $2.59 billion. The company also reinstated its quarterly dividend at 20 cents a share. Shares fell 2.6% after hours.
