Marriott Shares Rise On Quarterly Earnings Growth

By Sue ChangMarketsMarketWatch Pulse

Shares of Marriott International Inc. rose in Wednesday's extended session after the lodging company announced quarterly results. Marriott reported its fourth-quarter earnings climbed to $244 million from $202 million. On a per share basis, earnings fell to 62 cents versus 77 cents due to an increase in shares outstanding while adjusted earnings rose 20% to 85 cents. Revenue grew to $5.46 billion from $3.71 billion. Analysts surveyed by FactSet had forecast earnings of 85 cents a share on revenue of $5.04 billion. Marriott expects first-quarter earnings per share in the range of 87 cents to 91 cents, compared with an average of 90 cents forecast by analysts. Shares gained 0.8% after hours.

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