Hyatt Hotels: 2Q Earnings Snapshot
CHICAGO (AP) _ Hyatt Hotels Corp. (H) on Tuesday reported second-quarter profit of $77 million.
On a per-share basis, the Chicago-based company said it had net income of 66 cents. Earnings, adjusted for non-recurring costs, were 72 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The hotel operator posted revenue of $1.13 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $1.14 billion.
Hyatt Hotels shares have climbed slightly more than 6 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $78.23, a rise of 41 percent in the last 12 months.