Wyndham second-quarter profit increases 15 percent, tops forecast

MarketsAssociated Press

Wyndham Worldwide Corp. (WYN) on Thursday reported earnings that rose by 15 percent in its second quarter, and topped analysts' expectations.

The Parsippany, New Jersey-based company said profit increased to $153 million, or $1.20 per share, from $133 million, or 98 cents per share, in the same quarter a year ago.

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Earnings, adjusted for non-recurring gains, were $1.17 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $1.14.

The hotel and resort chain said revenue rose 7.2 percent to $1.34 billion from $1.25 billion in the same quarter a year earlier, and beat Wall Street forecasts. Analysts expected $1.33 billion, according to Zacks.

Wyndham Worldwide shares have climbed $2.86, or 3.9 percent, to $76.55 since the beginning of the year, while the Standard & Poor's 500 index has climbed 7.5 percent. The stock has increased $15.31, or 25 percent, in the last 12 months.

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full WYN report: http://www.zacks.com/ap/WYN

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Keywords:Wyndham,Earnings Report