Las Vegas Sands Stock Trades Higher After Hours On 'Robust Recovery' In Travel, Gaming

Las Vegas Sands Corp (NYSE: LVS) shares are rising in extended trading Wednesday after the company reported first-quarter results that topped analyst expectations. 

• Q1 Revenue: $2.12 billion beat estimates of $1.82 billion
• Q1 EPS: 28 cents beat estimates of 18 cents

Las Vegas Sands said a "robust recovery" in travel and tourism spending is underway in both Macao and Singapore. Macau property mass gaming revenue reached $1 billion for the first time since 2019.

"We remain energized by the opportunity to introduce our new suite product to more customers as airlift capacity continues to improve and the recovery in travel and tourism spending from China and the wider region continues," said Robert Goldstein, chairman and CEO of Las Vegas Sands.

Las Vegas Sands ended the quarter with a cash balance of $6.53 billion. Total debt outstanding, excluding finance leases and financed purchases, totaled $15.97 billion as of March 31.

See Also: IBM Turns In Earnings Beat, Reiterates Free Cash Flow Guidance, Shares Jump

LVS Price Action: Las Vegas Sands shares were up 3.82% after hours at $61.65 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Las Vegas Sands.