Wyndham Worldwide beats 2Q earnings and revenue expectations

MarketsAssociated Press

Wyndham Worldwide Corp. (WYN) on Tuesday reported second-quarter net income of $159 million.

On a per-share basis, the Parsippany, New Jersey-based company said it had profit of $1.33. Earnings, adjusted for non-recurring gains, were $1.32 per share.

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The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.

The hotel and resorts chain posted revenue of $1.4 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.37 billion.

Wyndham expects full-year earnings in the range of $4.88 to $5.03 per share, with revenue in the range of $5.45 billion to $5.55 billion.

Wyndham shares have fallen almost 5 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has risen slightly more than 4 percent in the last 12 months.

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

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Keywords: Wyndham Worldwide, Earnings Report