BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Marriott International Inc. (MAR) on Wednesday reported first-quarter net income of $564 million.
On a per-share basis, the Bethesda, Maryland-based company said it had net income of $1.93. Earnings, adjusted for non-recurring costs, came to $2.13 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.17 per share.
The hotel company posted revenue of $5.98 billion in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $5.97 billion.
For the current quarter ending in June, Marriott expects its per-share earnings to range from $2.43 to $2.48.
The company expects full-year earnings in the range of $9.31 to $9.65 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAR at https://www.zacks.com/ap/MAR
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