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Las Vegas Sands Second Quarter Earnings Below Analyst Estimates

Julie Cerullo
7/16/14 6:08 PM EDT
Las Vegas Sands Second Quarter Earnings came in just below analysts estimates after closing bell Wednesday. The casino operator earned 85 cents per share, that's four cents short of forecasts. Same goes for revenue which came in at $3.6 billion dollars, just below an estimated $3.8 billion this quarter. CEO Sheldon Adelson said on the company's call, "We are extremely pleased with our strong financial results...We delivered outstanding growth in revenue, cash flow, net income and earnings per share once again this quarter." This is despite what Adelson described as negative impact on gross gaming revenue due to the World Cup in June. Adelson also highlighted the company's continued growth in the Macao market. With optimism about Japanese gaming which will likely be legalized in the fall, analysts project a 10 percent revenue growth for the company into the next quarter.
Stocks in this video: LVS

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