Las Vegas Sands Earnings Beat 3rd Quarter Earnings
(Reuters) - Casino operator Las Vegas Sands Corp. , owned by billionaire Sheldon Adelson, on Thursday posted better-than-expected third-quarter earnings, boosted by positive trends at its Macau and Singapore operations.
The company, which operates the Venetian in Las Vegas, also said it increased its common dividend by 42.9 percent to $2 per share yearly, or 50 cents per quarter, for the 2014 calendar year.
On an adjusted basis, earnings rose to 82 cents from 46 cents per share. Analysts, on average, had expected Sands to post adjusted earnings of 76 cents, according to estimates compiled by ThomsonReuters I/B/E/s.
Net revenue for the third quarter rose 31.7 percent to $3.57 billion from $2.71 billion a year earlier.
Net income rose 79.2 percent to $626.7 million, compared to $349.8 million a year earlier, while diluted earnings per share rose 81 percent to 76 cents from 42 cents in the prior year quarter.
