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Wednesday, May 4, 2011

Las Vegas Sand Inc ( NYSE: LVS ): Bet goes wrong! ( Earning fall shorts )

Las Vegas Sands Corp.
Las Vegas Sands Corp ( NYSE: LVS ) reported a quarterly earnings which is a way below than analysts' expectations. It has reported a profit of 37 cents a share while the estimate was 43 cents a share. Share dropped more than 8 % in  premarket trade:

The company said first-quarter adjusted earnings rose to $299.4 million, or 37 cents a share, from the year-ago period. Analysts polled by FactSet Research had expected earnings of 43 cents a share. Revenue climbed 58% to $2.11 billion from the year-ago period, and Wall Street had expected $2.1 billion.

On a net basis, Las Vegas Sands swung to a profit of $228.2 million, or 28 cents a share. In the year-ago quarter, the company lost $28.9 million, or 4 cents a share.


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