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Las Vegas Sands LVS Q2 2025 earnings

Reported July 23, 2025 · After market close

Revenue$3.2BBeat by $334.5MDiluted EPS$0.79Beat by $0.26
Revenue estimate$2.8B
EPS estimate$0.53

Next report

Jul 22, 2026 (In 1 week)
Revenue estimate$3.4B
EPS estimate$0.78

Financials

Q2 2025

Income statement

See full
Revenue$3.2B+15.0%
Operating income$783.0M+32.5%
Net income$461.0M+30.6%
EPS (diluted)$0.66+37.5%

Balance sheet

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Cash & equivalents$3.6B-26.1%
Total debt$16.7B+14.1%
Total equity$2.0B-47.0%
Total assets$21.9B+3.5%

Cash flow

See full
Operating cash flow$178.0M-78.1%
CapEx$286.0M+0.4%
Free cash flow--100%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$30.12B-9.2%
Enterprise value$43.29B+0.6%
P/E21.3×+0.7×
P/S2.6×-0.3×

Profitability

See full
Operating margin21.4%-2.3pp
Net margin12.2%-1.9pp
FCF margin6.3%-13.2pp

Returns & leverage

See full
Return on equity49.2%+9.3pp
Debt / equity8.4×+4.5×
Current ratio1.2×-0.4×

Segments

By product

See full
Casino$2.4B+18.7%
Rooms$345.0M+10.2%
Mall$187.0M+7.5%
Food and Beverage$147.0M-0.7%

By geography

See full
Macao$1.8B+2.4%
Singapore$1.4B+36.6%
United States-$67.0M-6.3%

Versus estimates

Revenue

Q1 2026$3.6BBeat by $223.1MQ4 2025$3.6BBeat by $304.9MQ3 2025$3.3BBeat by $278.2M
Q2 2025$3.2BBeat by $334.5M
Q1 2025$2.9BMiss by $20.6MQ4 2024$2.9BBeat by $43.1M

Diluted EPS

Q1 2026$0.91Beat by $0.15Q4 2025$0.85Beat by $0.08Q3 2025$0.78Beat by $0.16
Q2 2025$0.79Beat by $0.26
Q1 2025$0.59Beat by $0.02Q4 2024$0.54Miss by $0.03

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Questions, answered.

When did Las Vegas Sands report Q2 2025 earnings?
Las Vegas Sands (LVS) reported Q2 2025 earnings on July 23, 2025 after market close.
What were Las Vegas Sands's Q2 2025 revenue and EPS?
Las Vegas Sands reported revenue of $3.2B and diluted EPS of $0.79 for Q2 2025.
Did Las Vegas Sands beat estimates in Q2 2025?
Revenue beat the consensus estimate of $2.8B by $334.5M. EPS beat the consensus estimate of $0.53 by $0.26.
How did Las Vegas Sands's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.0% from $2.8B a year earlier and diluted EPS grew 43.6% from $0.55.
Where can I find Las Vegas Sands's Q2 2025 SEC filings?
You can read the 10-Q periodic report (0001300514-25-000144) directly on SEC EDGAR. The filing index links above go to sec.gov.