Hyatt Hotels beats 3Q profit forecasts

Hyatt Hotels Corp. (H) on Thursday reported third-quarter earnings of $62 million.

The Chicago-based company said it had profit of 47 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The hotel operator posted revenue of $1.09 billion in the period, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $1.1 billion.

Hyatt Hotels shares have increased almost 7 percent since the beginning of the year. The stock has fallen 0.5 percent in the last 12 months.


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Keywords: Hyatt Hotels, Earnings Report