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Extended Stay America: 3Q Earnings Snapshot

·1 min read

CHARLOTTE, N.C. (AP) _ Extended Stay America Inc. (STAY) on Monday reported third-quarter net income of $24.2 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 14 cents. Earnings, adjusted for non-recurring costs, came to 19 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The hotel operator posted revenue of $285.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $277 million.

Extended Stay America shares have fallen slightly more than 8% since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.61, a drop of 6% in the last 12 months.

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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 STAY at https://www.zacks.com/ap/STAY