NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Choice Hotels International Inc. (CHH) on Thursday reported fourth-quarter net income of $63.7 million.
On a per-share basis, the North Bethesda, Maryland-based company said it had net income of $1.37. Earnings, adjusted for non-recurring costs, came to $1.60 per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The hotel franchiser posted revenue of $390.2 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $380.3 million.
For the year, the company reported profit of $369.9 million, or $7.90 per share. Revenue was reported as $1.6 billion.
Choice Hotels expects full-year earnings in the range of $6.92 to $7.14 per share.
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