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After Missing Earnings Projections, Sands Shares Slide

Las Vegas Sands Corp. shares sank in extended trading Wednesday after the casino operator reported a disappointing first-quarter profit and said operations in Macau remain challenging.

The company said after the market closed that it earned $320.2 million, or 40 cents per share, for the most recent quarter. Earnings, adjusted for non-recurring costs, were 45 cents per share. That missed market expectations of 61 cents per share, according to Zacks Investment Research.

Revenue of $2.72 billion in the period, also fell short of analyst expectations of $2.88 billion.

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A year earlier, the Las Vegas-based company earned $511.9 million, or 64 cents per share, on revenue of $3.01 billion.

Las Vegas Sands shares closed at $52.18 and fell more than 6 percent after hours following the report.