CHARLOTTE, N.C. (AP) _ Extended Stay America Inc. (STAY) on Wednesday reported third-quarter net income of $71.9 million.
The Charlotte, North Carolina-based company said it had profit of 38 cents per share. Earnings, adjusted for non-recurring costs, were 39 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The hotel operator posted revenue of $351.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $346.8 million.
Extended Stay America expects full-year earnings in the range of $1.10 to $1.14 per share.
Extended Stay America shares have fallen 14 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.33, a fall of 18 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