Marriott International Inc. (MAR) on Wednesday reported first-quarter net income of $207 million.
On a per-share basis, the Bethesda, Maryland-based company said it had profit of 73 cents.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The hotel company posted revenue of $3.51 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $3.58 billion.
Marriott expects full-year earnings to be $3 to $3.12 per share.
Marriott shares have increased 7.5 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 2 percent. In the final minutes of trading on Wednesday, shares hit $83.87, a rise of 48 percent in the last 12 months.