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Extended Stay America: 1Q Earnings Snapshot

May 6, 2020 GMT

CHARLOTTE, N.C. (AP) _ Extended Stay America Inc. (STAY) on Wednesday reported first-quarter net income of $4.6 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had profit of 3 cents. Earnings, adjusted for non-recurring costs, were 7 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The hotel operator posted revenue of $266.3 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $256.3 million.

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Extended Stay America shares have decreased 33% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.90, a fall of 46% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STAY at https://www.zacks.com/ap/STAY

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