Hyatt Hotels: 3Q Earnings Snapshot
CHICAGO (AP) _ Hyatt Hotels Corp. (H) on Wednesday reported third-quarter net income of $296 million.
The Chicago-based company said it had net income of $2.80 per share. Earnings, adjusted for non-recurring gains, were 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The hotel operator posted revenue of $1.22 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.18 billion.
Hyatt Hotels shares have increased slightly more than 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $73.24, an increase of 10% in the last 12 months.