Share

Hyatt Hotels 2Q profit drops 34 percent

|
News,Business

CHICAGO (AP) — 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

View article comments Leave a comment

More from washingtonexaminer.com