Starwood Hotels beats 3Q net income expectations, misses revenue forecasts

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STAMFORD, Connecticut — Starwood Hotels & Resorts Worldwide Inc. (HOT) on Tuesday reported profit of $109 million in its third quarter.

The Stamford, Connecticut-based company said it had profit of 59 cents per share. Earnings, adjusted for one-time gains and costs, were 66 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The owner of Sheraton and St. Regis hotels posted revenue of $1.49 billion in the period, falling short of Street forecasts. Analysts expected $1.52 billion, according to Zacks.

Starwood Hotels expects full-year earnings in the range of $2.79 to $2.83 per share.

Starwood Hotels shares have increased 2 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 6 percent. The stock has increased almost 9 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. HOT stock research report from Zacks.

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Keywords:Starwood Hotels,Earnings Report

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