Las Vegas Sands Results Miss Estimates

(RTTNews) - Casinos operator Las Vegas Sands Corp (LVS) on Wednesday reported second-quarter net earnings of $469.2 million or $0.59 per share compared with $671.4 million or $0.83 per share last year.

Excluding items, adjusted earnings for the quarter were $0.60 per share compared with $0.85 per share a year ago.

Revenues for the quarter were $2.92 billion compared with $3.62 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.61 per share on revenues of $2.99 billion for the quarter. Analysts' estimates typically exclude special items.

CEO Sheldon Adelson said the operating environment in Macao, particularly in the high-end gaming segments, remained challenging during the quarter.