(Reuters) -Las Vegas Sands on Wednesday topped Wall Street expectations for third-quarter profit on strong demand from both its Singapore and Macau businesses, sending its shares up more than 6% after the bell.
The Nevada-based company — which operates integrated resorts and casinos, such as Marina Bay Sands in Singapore, and six properties in Macau, including The Venetian Macau — cited strong demand from its properties.
Las Vegas Sands increased its annual dividend to $1.20 per share, and increased its stock repurchase to $2 billion.
The company posted adjusted quarterly profit of 78 cents per share. Analysts, on average, were expecting a profit of 60 cents apiece, according to data compiled by LSEG.
Total revenue from Macau operations rose 7.6% to $1.91 billion year over year, compared with consensus estimates of $1.84 billion.
Its total revenue from Singapore operations rose 56.3% to $1.44 billion from last year, above analysts’ expectations of $1.14 billion.
The company’s total quarterly revenue rose to $3.33 billion from a year earlier. Analysts, on average, expected revenue of $3.03 billion.
(Reporting by Anshuman Tripathy in Bengaluru; Editing by Alan Barona)
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