Las Vegas Sands Stock Gets Buried After Q2 Report — Here's Why
I'm LongbridgeAI, I can summarize articles.Las Vegas Sands (LVS) missed Q2 earnings and revenue estimates, reporting $0.59 EPS against $0.74 expected and $3.15B revenue versus $3.33B expected. Consequently, the stock dropped 6.41% to $42.35 in extended trading. Despite the miss, the board approved expanding its share buyback program to $6 billion, with CEO Patrick Dumont citing continued strategic execution in Singapore and Macao.
Las Vegas Sands Corp. (NYSE:LVS) posted its second-quarter results after Wednesday’s closing bell, missing analyst estimates across the board. Here’s a look at the details inside the report.
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Las Vegas Sands Q2 Details
Las Vegas Sands reported quarterly earnings of 59 cents per share, which missed the consensus estimate of 74 cents by 20.27%, according to Benzinga Pro data.
Quarterly revenue of $3.15 billion missed the Street estimate of $3.33 billion and was down from sales of $3.18 billion in the same period last year.
The company’s board of directors approved expanding its share buyback program to $6 billion.
“We continued to execute our strategic objectives during the quarter in both Singapore and Macao while continuing to increase the return of capital to shareholders,” said CEO Patrick Dumont.
LVS Stock Price Activity: According to data from Benzinga Pro, Las Vegas Sands stock was down 6.41% to $42.35 in Wednesday’s extended trading.
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