News Column

Marriott 2Q profit rises 7.3 percent

July 29, 2014



BETHESDA, Md. (AP) Marriott International Inc. (MAR) on Tuesday reported earnings that rose by 7.3 percent in its second quarter, and topped analysts' expectations.

The Bethesda, Maryland-based company said earnings increased to $192 million, or 64 cents per share, from $179 million, or 57 cents per share, in the same quarter a year earlier.

Earnings, adjusted for non-recurring costs and asset impairment costs, were 71 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The company said revenue rose 6.8 percent to $3.48 billion from $3.26 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $3.54 billion, according to Zacks.

Marriott International shares have risen $16.34, or 33 percent, to $65.69 since the beginning of the year, while the Standard & Poor's 500 index has climbed 6.6 percent. The stock has climbed $24.30, or 59 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full MAR report: http://www.zacks.com/ap/MAR

Keywords:Marriott,Earnings Report


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Source: Associated Press


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