Hyatt Hotels beats Street 1Q forecasts

Markets Associated Press

Hyatt Hotels Corp. (H) on Thursday reported first-quarter earnings of $70 million.

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On a per-share basis, the Chicago-based company said it had net income of 54 cents. Earnings, adjusted for non-recurring costs, came to 73 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The hotel operator posted revenue of $1.19 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.14 billion.

Hyatt Hotels shares have increased nearly 2 percent since the beginning of the year. The stock has climbed 13 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on H at https://www.zacks.com/ap/H

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Keywords: Hyatt Hotels, Earnings Report