First Free Story (1 of 3)Join Skift Pro
Choice Hotels International Inc. (CHH) on Thursday reported third-quarter net income of $47.6 million.
The Rockville, Maryland-based company said it had profit of 84 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The hotel franchiser posted revenue of $267.6 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $252 million.
Choice Hotels expects full-year earnings in the range of $2.43 to $2.46 per share.
Choice Hotels shares have fallen 12 percent since the beginning of the year. The stock has fallen 12 percent in the last 12 months.
This article was from The Associated Press and was legally licensed through the NewsCred publisher network.