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Las Vegas Sands, Alcoa: After-hours movers

Las Vegas Sands (LVS) is moving lower in after-hours trading on Wednesday despite posting a gain of almost 40% in revenue for the quarter compared to the same time last year with $2.96 billion from $2.12 billion last year. The first quarter report did, however, show weakness in Macau as the numbers from that location missed Wall Street expectations.

Shares of Alcoa (AA) are moving slightly higher in after-hours trading as the company posted its first-quarter report, posting $2.6 billion in revenue, in-line with the analyst consensus estimate of $2.56 billion. The company did report an adjusted loss of $0.81 per share, missing estimates of of $0.64 per share loss.

Yahoo Finance's Julie Hyman takes a closer look at the stocks moving after the market close.

For more expert insight and the latest market action, click here to watch this full episode.

This post was written by Nicholas Jacobino

Video transcript

[AUDIO LOGO]

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JULIE HYMAN: Let's take a look at what's trending after hours. Shares of Las Vegas Sands lower, despite reporting an earnings beat for the first quarter of 2024. The casino and resort company posted adjusted earnings of $0.75 a share, that beat the analyst estimate by $0.15. Revenue rising nearly 40% to about $2.96 billion, just above estimates as well.

And CEO Robert Goldstein says the company saw strong growth in Macau, and in Singapore, but results to the Macau locations broadly missed Wall Street estimates. Goldstein added that LVS has been benefiting from a rebound in tourism and travel spending in Asia. And shares of Alcoa moving higher after the world's eighth largest producer of aluminum topped revenue estimates for the first quarter.

Revenue did fall 2.7% year over year, but the $2.6 billion posted in the quarter beat expectations from analysts. The Pittsburgh-based company reported an adjusted loss of $0.81 a share-- that is wider than the $0.64 that analysts had anticipated. Alcoa said its results reflected lower average pricing for aluminum, and elevated production costs.