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Wyndham Worldwide Corp. (WYN) on Wednesday reported third-quarter earnings of $196 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had net income of $1.78. Earnings, adjusted for one-time gains and costs, came to $1.89 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.
The hotel and resorts chain posted revenue of $1.57 billion in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $1.59 billion.
Wyndham expects full-year earnings in the range of $5.68 to $5.71 per share, with revenue expected to be $5.65 billion.
Wyndham shares have dropped almost 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 5 percent. The stock has decreased 11 percent in the last 12 months.
This article was from The Associated Press and was legally licensed through the NewsCred publisher network.