Hilton meets 3Q profit forecasts

MarketsAssociated Press

Hilton Worldwide Holdings Inc. (HLT) on Wednesday reported third-quarter net income of $187 million.

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On a per-share basis, the McLean, Virginia-based company said it had net income of 19 cents. Earnings, adjusted for one-time gains and costs, were 23 cents per share.

The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of 23 cents per share.

The hotelier posted revenue of $2.94 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $3.01 billion.

For the current quarter ending in December, Hilton expects its per-share earnings to range from 20 cents to 23 cents.

The company expects full-year earnings in the range of 86 cents to 89 cents per share.

Hilton shares have increased 6 percent since the beginning of the year. The stock has dropped 9 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLT at http://www.zacks.com/ap/HLT


Keywords: Hilton, Earnings Report