By Connor Hart
Las Vegas Sands' stock price rose after the casino and resort operator posted higher-than-expected revenue in the fourth quarter.
Shares climbed 8%, to $46.92, in after-hours trading Wednesday. The stock is down 11% in the past year.
The Paradise, Nev., company reported a profit of $324 million, or 45 cents a share, compared with $382 million, or 50 cents a share, a year earlier.
Adjusted per-share earnings came in at 54 cents, missing the 58 cents that analysts polled by FactSet expected.
Revenue fell 0.7% to $2.9 billion but came in ahead of the $2.85 billion that analysts forecast.
Casino revenue fell to $2.1 billion from $2.11 billion last year, and room revenue declined to $317 million from $323 million.
Chief Executive Robert Goldstein said Macao recovery continued during the quarter, though visitor spending remains below pre-pandemic levels. The company's Marina Bay Sands resort in Singapore experienced what he called outstanding financial and operating performance.
"We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macao and Singapore in the years ahead as we execute our capital investment programs in both markets," he said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 29, 2025 18:29 ET (23:29 GMT)
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