How did LVS Q4 earnings surprise analysts?

**Las Vegas Sands (LVS) failed to meet analysts' expectations in Q4 2024.**

1. **Revenue and EPS Misses**: The company reported $2.68 billion in revenue for Q4 2024, which was slightly below the Zacks Consensus Estimate of $2.79 billion. The EPS of $0.44 for the quarter also missed analysts' expectations, which had forecasted an EPS of $0.53. This resulted in a surprise of approximately -$0.09 EPS, indicating that analysts had anticipated higher earnings.
2. **Decline in Net Income and Profit Margin**: Net income for the quarter was reported at $275 million, reflecting a significant 28% decrease from the previous year's Q3. Concurrently, the profit margin declined to 10%, down from 14% in the same period of the previous year. These declines further underscored the company's underperformance in the quarter.
3. **Analyst Downgrades and Estimates Adjustments**: Following the earnings release, analysts at Seaport Res Ptn lowered their FY2024 EPS estimates for LVS, indicating a more pessimistic outlook on the company's earnings prospects. This sentiment was likely influenced by the Q4 results, which had already shown signs of weakness.

In summary, LVS's Q4 2024 earnings fell short of analysts' expectations, with both revenue and EPS missing forecasts. This performance, coupled with declining net income and profit margins, contributed to a negative sentiment among analysts, leading to estimates adjustments downward.