Marriott Shares Rise On Quarterly Earnings Growth
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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