Las Vegas Sands Q1 FY26: where the revenue came from and where it went
The whole income statement of Las Vegas Sands for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2026
- Reported
- Apr 24, 2026
Revenue$3.59B
+25% year over year
Gross profit$1.25B
35% margin
Operating profit$0.90B
25% margin
Net profit$0.57B
16% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 3.59 | 100% | +25% |
| Casino | 2.74 | 76% | +29% |
| Occupancy | 0.38 | 11% | +16% |
| Mall | 0.20 | 6% | +10% |
| Food & beverage | 0.18 | 5% | +25% |
| Product & service other | 0.09 | 2% | +6% |
| Cost of revenue | −2.34 | 65% | |
| Gross profit | 1.25 | 35% margin | +2pp |
| R&D | −0.04 | 1% | −1pp |
| SG&A | −0.30 | 9% | −1pp |
| Operating profit | 0.90 | 25% margin | +4pp |
| Interest & other costs | −0.23 | ||
| Tax | −0.11 | ||
| Net profit | 0.57 | 16% margin | +4pp |
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