the republic logo

Hyatt Hotels 2nd-quarter profit falls 34 percent, beats estimate

bug
Share/Save/Bookmark

CHICAGO — Hyatt Hotels Corp. (H) on Thursday reported earnings that declined by 34 percent in its second quarter, and beat analysts' expectations.

The Chicago-based company said net income declined to $74 million, or 48 cents per share, from $112 million, or 70 cents per share, in the same quarter a year earlier.

Earnings, adjusted for one-time gains and costs, came to 47 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The hotel operator said revenue climbed 6 percent to $1.16 billion from $1.09 billion in the same quarter a year ago, and missed Wall Street forecasts. Analysts expected $1.17 billion, according to Zacks.

Hyatt Hotels shares have risen $11.72, or 24 percent, to $61.18 since the beginning of the year. The stock has increased $15.93, or 35 percent, in the last 12 months.

_____

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full H report: http://www.zacks.com/ap/H

_____

Keywords:Hyatt Hotels,Earnings Report

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.