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Marriott tops Street 1Q forecasts

BETHESDA, Md. (AP) _ Marriott International Inc. (MAR) on Monday reported first-quarter profit of $365 million.

On a per-share basis, the Bethesda, Maryland-based company said it had profit of 94 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.01 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 90 cents per share.

The hotel company posted revenue of $5.56 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $4.91 billion.

Marriott expects full-year earnings to be $3.92 to $4.09 per share.

Marriott shares have climbed 17 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 7 percent. In the final minutes of trading on Monday, shares hit $96.37, a climb of 39 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 MAR at https://www.zacks.com/ap/MAR

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Keywords: Marriott International, Earnings Report