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Marriott tops Street 4Q forecasts

BETHESDA, Md. (AP) _ Marriott International Inc. (MAR) on Wednesday reported fourth-quarter profit of $244 million.

On a per-share basis, the Bethesda, Maryland-based company said it had profit of 62 cents. Earnings, adjusted for costs related to mergers and acquisitions, were 85 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The hotel company posted revenue of $5.46 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $4.82 billion.

For the year, the company reported profit of $780 million, or $2.64 per share. Revenue was reported as $17.07 billion.

Marriott expects full-year earnings to be $3.79 to $3.97 per share.

Marriott shares have risen 8 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 5 percent. In the final minutes of trading on Wednesday, shares hit $89.46, a climb of 38 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 MAR at https://www.zacks.com/ap/MAR


Keywords: Marriott International, Earnings Report