Las Vegas Sands (LVS) stock soared more than 6% in pre-market trading on Thursday, following the casino operator's strong fourth-quarter results that highlighted its continued recovery and growth potential in key markets like Singapore and Macao.
The company reported revenue of $2.9 billion for the quarter, exceeding analysts' expectations of $2.87 billion. This impressive 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.
Despite missing earnings estimates, with an adjusted EPS of $0.54 versus the consensus forecast of $0.60, LVS's CEO Robert Goldstein expressed enthusiasm about the company's opportunities to deliver industry-leading growth in both Macao and Singapore in the years ahead. While operations in Macao continue to face pandemic-related challenges, the company's strategic investments and capital programs in these key markets position it for long-term success.