PARSIPPANY, N.J. (
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.
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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