ORLANDO, Fla. (AP) _ Marriott Vacations Worldwide Corp. (VAC) on Thursday reported second-quarter earnings of $10.8 million.
The Orlando, Florida-based company said it had profit of 39 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, were $1.59 per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The timeshare company posted revenue of $594.7 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $581.5 million.
Marriott expects full-year earnings in the range of $6.69 to $7.09 per share.
Marriott shares have declined 14 percent since the beginning of the year. The stock has decreased nearly 1 percent in the last 12 months.