CHICAGO — Hyatt Hotels Corp. (H) on Tuesday reported second-quarter profit of $40 million.
On a per-share basis, the Chicago-based company said it had profit of 27 cents. Earnings, adjusted for non-recurring costs, were 28 cents per share.
The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The hotel operator posted revenue of $1.11 billion in the period, which met Street forecasts.
Hyatt Hotels shares have fallen almost 8 percent since the beginning of the year. The stock has fallen 4.5 percent in the last 12 months.
Keywords: Hyatt Hotels, Earnings Report