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Las Vegas Sands: 2Q Earnings Snapshot

July 22, 2020 GMT

LAS VEGAS (AP) _ Las Vegas Sands Corp. (LVS) on Wednesday reported a second-quarter loss of $820 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Las Vegas-based company said it had a loss of $1.07. Losses, adjusted for one-time gains and costs, were $1.05 per share.

The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 72 cents per share.

The casino operator posted revenue of $98 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $738.9 million.

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Las Vegas Sands shares have decreased 32% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.84, a drop of 27% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LVS at https://www.zacks.com/ap/LVS

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