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Marriott posts higher-than-expected quarterly profit

03 Oct, 2012

 

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.

 

Copyright Reuters, 2012

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