Marriott Earnings in Line With Expectations
Marriott International
(MAR) - Get Marriott International Report
reported earnings on Tuesday that were in line with analysts' estimates.
The Bethesda, Md., hotel chain posted net income of $149 million, or 59 cents a share, up from $90 million, or 44 cents a share, excluding a charge, in fourth-quarter 1999. Thirteen analysts polled by
First Call/Thomson Financial
offered a consensus earnings estimate of 59 cents for the quarter.
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Revenue increased 12% to $3.2 billion from $2.8 billion in the year-ago period.
Marriott stuck with its full-year earnings estimate of $2.17 a share in 2001. The First Call estimate is the same.
In recent trading on the
New York Stock Exchange
, Marriott was down $1.69, or 3.8%, to $43.30.
