Wyndham Worldwide Beats Street ... Again - TheStreet



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Wyndham Worldwide


entered the spring on a five-quarter winning streak. Make that six.

While the hotel chain's profit dropped 27.5% in the second-quarter, it once again beat analysts' expectations -- making it the sixth quarter in a row that the company has done so.

Shares of the company were up 3% to $13.01 in afternoon trading.

During the quarter, Wyndham earned $71 million, or 39 cents a share, compared with $98 million, or 55 cents, in the year-ago period.

Excluding one-time costs, Wyndham actually earned 41 cents a share, surpassing analysts' expectations of 37 cents.

Revenue declined 19% to $920 million from $1.13 billion. Revenue per available room dropped 13.6% compared with a 19.5% drop for the entire industry.

Looking ahead, the company forecasts third-quarter earnings in the range of 53 cents to 57 cents a share.

Last week,

Starwood Hotels & Resorts


reported a 28% jump in its second-quarter profit, topping Wall Street's forecast.

--Reported by Jeanine Poggi in New York.

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