Wyndham Worldwide posts 1Q profit, results top Wall Street estimates

MarketsAssociated Press

Wyndham Worldwide Corp. (WYN) on Tuesday reported first-quarter net income of $122 million.

On a per-share basis, the Parsippany, New Jersey-based company said it had net income of $1. Earnings, adjusted for costs related to mergers and acquisitions, came to $1.03 per share.

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The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.

The hotel and resorts chain posted revenue of $1.26 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.24 billion.

Wyndham expects full-year earnings in the range of $4.81 to $4.96 per share, with revenue in the range of $5.45 billion to $5.55 billion.

Wyndham shares have increased 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 percent. The stock has increased 24 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