LVS Q2 Earnings Top Expectations

Las Vegas Sands (LVS 25.93 +0.65) reported second quarter earnings of $0.17 per share, $0.08 better than the Thomson Reuters consensus of $0.09.

Revenues rose 50.7% year-over-year to $1.59 billion, in-line with the$1.59 billion consensus.

Total net revenues for Sands China Ltd. increased 40.7% to $1.04 billion in the second quarter, compared to $738.9 million in 2Q09. Adjusted Property EBITDA for Sands China Ltd. increased 79.4% to $300.7 million in the second quarter, compared to $167.6 million in the second quarter of 2009, bringing the second half of 2010 adjusted property EBITDA to $555.2 million.

The company in June said the subsidiary could earn as much as $1.0 billion to $1.2 billion in adjusted property EBITDA in fiscal year 2010. Net income for Sands China Ltd. increased 328.2% to $133.6 million in the second quarter, compared to $31.2 million in second quarter 2009.