Las Vegas Sands: Impressive Revenue Surge in Q4

Las Vegas Sands has announced a significant surge in revenue during the fourth quarter, driven by strong performance in its casinos. The company reported a net profit of $382 million, equivalent to 50 cents per share, compared to a loss of $169 million (21 cents per share) during the same period last year. Analysts were expecting a net profit of $494.9 million (59 cents per share), according to FactSet.

When excluding one-time items, earnings per share stood at 57 cents. Revenue also saw an impressive increase of 161% to reach $2.92 billion, surpassing the $2.89 billion analysts had anticipated, as reported by FactSet.

The company experienced casino revenue of $2.11 billion, a significant jump from $654 million the previous year. Additionally, room revenue increased from $154 million to $323 million.

Las Vegas Sands' CEO, Robert Goldstein, highlighted the company's positive results and optimistic outlook for growth in both Macao and Singapore. "We remain deeply enthusiastic about our opportunities for growth in both Macao and Singapore in the years ahead," Goldstein added.