NORTH BETHESDA, Md. (AP) — NORTH BETHESDA, Md. (AP) — Choice Hotels International Inc. (CHH) on Thursday reported first-quarter net income of $20.3 million.
On a per-share basis, the North Bethesda, Maryland-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, came to $1.07 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The hotel franchiser posted revenue of $340.6 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $334.1 million.
Choice Hotels expects full-year earnings in the range of $6.92 to $7.14 per share.
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