Hyatt Hotels beats Street 3Q forecasts

Markets Associated Press

Hyatt Hotels Corp. (H) on Thursday reported third-quarter earnings of $16 million.

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On a per-share basis, the Chicago-based company said it had profit of 13 cents. Earnings, adjusted for non-recurring costs, came to 26 cents per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

The hotel operator posted revenue of $1.12 billion in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $1.09 billion.

Hyatt Hotels shares have risen 14 percent since the beginning of the year. The stock has increased 25 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