NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Choice Hotels International Inc. (CHH) on Wednesday reported first-quarter earnings of $31 million.
On a per-share basis, the North Bethesda, Maryland-based company said it had net income of 62 cents. Earnings, adjusted for non-recurring costs, came to $1.28 per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The hotel franchiser posted revenue of $331.9 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $345 million.
Choice Hotels expects full-year earnings in the range of $6.30 to $6.60 per share.
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