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ROCKVILLE, Md. (AP) _ Choice Hotels International Inc. (CHH) on Thursday reported first-quarter profit of $30.1 million.
On a per-share basis, the Rockville, Maryland-based company said it had net income of 54 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, were 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 75 cents per share.
The hotel franchiser posted revenue of $218.3 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $222.5 million.
For the current quarter ending in July, Choice Hotels expects its per-share earnings to range from $1.11 to $1.15.
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The company expects full-year earnings in the range of $4.06 to $4.18 per share.
Choice Hotels shares have climbed 20% since the beginning of the year. The stock has climbed 5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHH at https://www.zacks.com/ap/CHH
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