Las Vegas Sands

LVS · Consumer Discretionary · Market cap $32.1B

Q1 FY26 Jan 1 – Mar 31, 2026 reported Apr 24, 2026

Revenue$3.6B +25% year over year

Gross profit$2.1B

Operating profit$0.9B

Net profit$0.6B 16% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	3.6	100%	+25%
Casino	2.7	75%	+29%
Occupancy	0.4	11%	+16%
Mall	0.2	6%	+10%
Food and Beverage	0.2	6%	+25%
Product and Service Other	0.1	3%	+6%
Cost of revenue	−1.5	42%
Gross profit	2.1	58% margin	−2pp
Research & development	−0	1%	−1pp
SG&A	−0.3	8%	−1pp
Other	−0.8	23%	+0pp
Operating profit	0.9	25% margin	+4pp
Tax	−0.1
Interest & other costs	−0.2
Net profit	0.6	16%	+4pp

All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.3	100%	+24%
Casino	2.5	76%	+29%
Occupancy	0.4	12%	+19%
Mall	0.2	6%	+5%
Food and Beverage	0.2	6%	+9%
Product and Service Other	0.1	3%	−4%
Cost of revenue	−1.4	42%
Gross profit	2	59% margin	+1pp
Research & development	−0.1	2%	+0pp
SG&A	−0.3	9%	−2pp
Other	−0.9	26%	+0pp
Operating profit	0.7	22% margin	+3pp
Tax	−0.1
Interest & other costs	−0.2
Net profit	0.4	13%	+2pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	3.2	100%	+15%
Casino	2.4	75%	+19%
Occupancy	0.3	9%	+10%
Mall	0.2	6%	+7%
Food and Beverage	0.1	3%	−1%
Product and Service Other	0.1	3%	−11%
Cost of revenue	−1.2	38%
Gross profit	1.9	61% margin	+2pp
Research & development	−0.1	2%	+0pp
SG&A	−0.3	9%	−1pp
Other	−0.8	25%	+0pp
Operating profit	0.8	25% margin	+3pp
Tax	−0.1
Interest & other costs	−0.2
Net profit	0.5	15%	+2pp

All figures in billions of U.S. dollars, for Q3 FY24 (period ends Sep 30, 2024).
Item	Value	Share of revenue	Year over year
Revenue	2.7	100%	−4%
Casino	1.9	70%	−4%
Occupancy	0.3	11%	−8%
Mall	0.2	7%	−6%
Food and Beverage	0.2	7%	−3%
Product and Service Other	0.1	4%	+3%
Cost of revenue	−1.1	41%
Gross profit	1.6	58% margin	−2pp
Research & development	−0.1	2%	+0pp
SG&A	−0.3	11%	+1pp
Other	−0.7	26%	+0pp
Operating profit	0.5	19% margin	−6pp
Interest & other costs	−0.2
Net profit	0.3	10%	−3pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	Apr 24, 2026	$3.6B	+25%	25%	$0.6B	16%
Q3 FY25	Jul 1 – Sep 30, 2025	Oct 24, 2025	$3.3B	+24%	21%	$0.4B	13%
Q2 FY25	Apr 1 – Jun 30, 2025	Jul 25, 2025	$3.2B	+15%	25%	$0.5B	15%
Q3 FY24	Jul 1 – Sep 30, 2024	Oct 25, 2024	$2.7B	−4%	19%	$0.3B	10%