Hyatt Hotels: 2Q Earnings Snapshot
CHICAGO (AP) _ Hyatt Hotels Corp. (H) on Wednesday reported second-quarter profit of $86 million.
On a per-share basis, the Chicago-based company said it had profit of 80 cents. Earnings, adjusted for non-recurring gains, came to 76 cents per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The hotel operator posted revenue of $1.29 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.23 billion.
Hyatt Hotels shares have increased 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $77.42, a drop of 1% in the last 12 months.