Friday, February 4, 2011

Las Vegas Sands (NYSE:LVS) Shares Plunge on Revenue Miss

While Las Vegas Sands Corp. (NYSE:LVS) vastly improved in the last quarter from last year's recessionary period, revenue didn't meet expectations, and the shares of the company plummeted over 6 percent in after hours trading.

Sands reported a net profit of $273 million, or 34 cents a share, compared with a loss of $113.9 million, or 17 cents a share, in the same quarter last year.

Not including one-time items, the company earned 42 cents a share in the quarter, beating analysts' estimates of an average of 39 cents a share.

Revenue came in at $2.02 billion, missing the $2.07 billion analysts were looking for.

Las Vegas Sands closed Thursday at $50.28, gaining $0.85, or 1.72 percent. After the market closed they were trading at $46.95, down $3.34, or 6.64 percent.

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