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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.


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


Keywords: Marriott Vacations Worldwide, Earnings Report