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Las Vegas Sands posts better-than-expected first-quarter earnings
May 1, 2013 / 8:27 PM / 4 years ago

Las Vegas Sands posts better-than-expected first-quarter earnings

The Las Vegas Sands company logo is seen in front of its construction site in Macau November 14, 2008. REUTERS/Bobby Yip

LOS ANGELES (Reuters) - Casino operator Las Vegas Sands Corp (LVS.N), owned by billionaire Sheldon Adelson, on Wednesday posted better-than- expected first-quarter earnings, helped by good results in Macau.

Sands said first-quarter net revenue rose 19.5 percent to $3.3 billion, net income rose 14.6 percent to $572.0 million, and earnings per share rose 13.1 percent to 69 cents a share.

On an adjusted basis, earnings rose to 71 cents from 70 cents a share. Analysts, on average, had expected Sands to post adjusted earnings of 66 cents, according to consensus estimates compiled by ThomsonReuters I/B/E/s.

Reporting By Susan Zeidler

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