Las Vegas Sands Corporation (LVS) has reported a 50 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $480 million, or $0.60 a share in the quarter, compared with $320 million, or $0.40 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $527 million, or $0.66 a share compared with $375 million or $0.47 a share, a year ago.

Revenue during the quarter grew 14.32 percent to $3,106 million from $2,717 million in the previous year period. Total expenses were 75.43 percent of quarterly revenues, down from 78.43 percent for the same period last year. This has led to an improvement of 300 basis points in operating margin to 24.57 percent.

Operating income for the quarter was $763 million, compared with $586 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $1,147 million compared with $918 million in the prior year period. At the same time, adjusted EBITDA margin improved 314 basis points in the quarter to 36.93 percent from 33.79 percent in the last year period.

Mr. Sheldon G. Adelson, chairman and chief executive officer, said, "We are pleased to have continued to execute our strategic objectives during the quarter and to have delivered a strong operating performance in each of our markets. The benefits of our convention-based Integrated Resort business model were clearly evident in our financial results, with adjusted property EBITDA increasing 24.9% compared to the first quarter of 2016, reaching $1.15 billion. We also continued to return excess capital to shareholders during the quarter. "Looking ahead we remain focused on the execution of our proven global growth strategy, which leverages the power of our unique convention-based Integrated Resort business model. We remain confident in our ability to bring the economic benefits of our proven business model to promising new markets around the world as they emerge and develop in the future."