Hilton beats Street 2Q forecasts

Markets Associated Press

Hilton Worldwide Holdings Inc. (HLT) on Wednesday reported second-quarter earnings of $166 million.

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On a per-share basis, the McLean, Virginia-based company said it had net income of 51 cents. Earnings, adjusted for one-time gains and costs, were 52 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.

The hotelier posted revenue of $2.35 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $2.3 billion.

For the current quarter ending in October, Hilton expects its per-share earnings to range from 47 cents to 51 cents.

The company expects full-year earnings in the range of $1.78 to $1.85 per share.

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Hilton shares have decreased 23 percent since the beginning of the year. The stock has declined 12 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 HLT at https://www.zacks.com/ap/HLT

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Keywords: Hilton, Earnings Report