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Extended Stay America Inc. on Tuesday reported first-quarter net income of $17 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of 8 cents. Earnings, adjusted for one-time gains and costs, came to 13 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The hotel operator posted revenue of $287.6 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $289.6 million.
Extended Stay America expects full-year revenue in the range of $1.27 billion to $1.29 billion.
Extended Stay America shares have declined 3 percent since the beginning of the year. The stock has fallen 25 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research.
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