LAS VEGAS (AP) – Las Vegas Sands Corp. (LVS) on Wednesday reported fourth-quarter net income of $1.21 billion.
On a per-share basis, the Las Vegas-based company said it had profit of $1.53. Earnings, adjusted for non-recurring gains, came to 88 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The casino operator posted revenue of $3.44 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $3.21 billion.
For the year, the company reported profit of $2.81 billion, or $3.54 per share. Revenue was reported as $12.88 billion.
Las Vegas Sands shares have increased 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $77.44, a climb of 38 percent in the last 12 months.
