Las Vegas Sands narrows second quarter loss
For the three-month period that ended June, 30, the company reported a loss to common shareholders of us$ 4.7 million, or a penny per share. That's far better than last year's loss of us$ 222.2 million, or 34 cents per share.
Revenue soared nearly 51 % to us$ 1.59 billion, up from us$ 1.06 billion last year. Excluding one-time items, the casino company's adjusted profit was us$ 129.3 million or 17 cents per share. Wall Street analysts expected the company to post an adjusted profit of 9 cents per share on revenue of us$ 1.59 billion.
Las Vegas Sands is controlled by billionaire CEO Sheldon Adelson. It operates the popular Venetian and Palazzo casinos in Las Vegas as well as casinos in Macau. The company's shares climbed 42 cents, or 1.7 %, to us$ 25.70 in pre-market trading Wednesday. They closed Tuesday at us$ 25.28.
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