Las Vegas Sands stock rises on Q1 earnings beat

Yahoo Finance’s Josh Schafer joins the Live show to break down the rise in stock for Las Vegas Sands following first-quarter earnings.

Video transcript

BRAD SMITH: Las Vegas Sands shoring up its stock on a comeback story in Macau. Here's Yahoo Finance's Josh Schafer with your stock in 60 seconds. Josh, you're on the clock.

JOSH SCHAFER: We'll see how quick I can be, Brad. All right, so we got Las Vegas Sands beating on the top and bottom line for earnings. Adjusted EPS coming in at $0.28 per share. That's above street estimates of $0.17 per share.

But as Brad mentioned off the top here, really, the story is that Macau revenue. Macau revenue coming in for the quarter at $1.2 billion. That's the first time the Las Vegas Sands has had quarterly revenue in Macau above $1,000,000,000 since 2019. You can see there, nearly triple what it was a year ago.

And you-- that same story has basically played out in the stock here, guys. So if you take a look at the Las Vegas Sands chart over the last two years, you can see where it started dropping here. And actually, if I go back even further to the five-year, you can see, obviously, the start of COVID-19, when there was a shutdown in China, and people couldn't travel. The stock went down significantly. It has not returned to those levels because Macau revenue has not returned.

But then you take a look at today. A significant bump today, up almost 7%, as that Macau revenue seems to be moving toward the upside. And if I can just mention two other tickers here quick that are benefiting from the same news, you see MGM up 2% and Wynn also up more than 4%. Those two casinos also do have Macau exposure and exposure in China. They have not reported results yet, so we'll keep an eye out for how things are going for them as well.