BETHESDA, Maryland — Marriott International Inc. (MAR) on Wednesday reported second-quarter earnings of $240 million.
On a per-share basis, the Bethesda, Maryland-based company said it had net income of 87 cents. Earnings, adjusted for non-recurring gains, were 82 cents per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The hotel company posted revenue of $3.69 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $3.72 billion.
Marriott expects full-year earnings to be $3.10 to $3.18 per share.
Marriott shares have decreased slightly more than 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. In the final minutes of trading on Wednesday, shares hit $77, an increase of 17 percent in the last 12 months.
Keywords: Marriott International, Earnings Report