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Extended Stay America: 2Q Earnings Snapshot

CHARLOTTE, N.C. (AP) _ Extended Stay America Inc. (STAY) on Wednesday reported second-quarter net income of $65.1 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 34 cents. Earnings, adjusted for non-recurring costs, were 35 cents per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The hotel operator posted revenue of $336.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $336.3 million.

Extended Stay America expects full-year earnings in the range of $1.07 to $1.15 per share.

Extended Stay America shares have climbed 15 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.85, a rise of 10 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STAY at https://www.zacks.com/ap/STAY