Las Vegas Sands Q4 Earnings Fall Short of Estimates as Macao Business Lags
Las Vegas Sands missed analysts' profit expectations for the fourth quarter, weighed down by sluggish performance in its Macao operations.
Key Highlights:
* Adjusted earnings per share: 54 cents vs. 58 cents estimated
* Revenue: $2.9 billion vs. $2.87 billion estimated
* Macao revenue: $1.86 billion, down 5% year-over-year
Macao Performance:
* Growth slowdown in integrated resorts and casinos
* Visitor spending remains below pre-pandemic levels
* CEO Robert Goldstein notes ongoing recovery but concerns about below-par spending
Despite the Macao headwinds, the company's overall revenue exceeded expectations. The stock closed with a modest gain of 0.46% following the earnings release.