ATLANTA: Hotel operator Marriott International reported a higher-than-expected quarterly profit on Wednesday as its corporate business showed strength, but the company's profit outlook for the current quarter came in below average analyst estimates.
Net income came to $143 million, or 44 cents a share, in the fiscal third quarter ended Sept. 7, compared with a loss of $179 million, or 52 cents a share, a year earlier. The number of shares outstanding declined in the quarter, with the repurchase of 9.6 million shares.
Analysts expected 40 cents a share, on average, according to Thomson Reuters I/B/E/S.
Quarterly revenue fell to $2.73 billion from $2.87 billion a year earlier.
Comments
Comments are closed.