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Marriott beats Street 2Q forecasts

ORLANDO, Fla. (AP) _ Marriott Vacations Worldwide Corp. (VAC) on Thursday reported second-quarter net income of $44.3 million.

On a per-share basis, the Orlando, Florida-based company said it had profit of $1.58. Earnings, adjusted for non-recurring costs, were $1.60 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.

The timeshare company posted revenue of $497.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $489.2 million.

Marriott expects full-year earnings in the range of $5.31 to $5.52 per share.

Marriott shares have climbed 35 percent since the beginning of the year. The stock has risen 55 percent 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 VAC at https://www.zacks.com/ap/VAC

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Keywords: Marriott Vacations Worldwide, Earnings Report