BETHESDA, Md. (AP) _ Marriott International Inc. (MAR) on Wednesday reported fourth-quarter profit of $279 million.
The Bethesda, Maryland-based company said it had net income of 85 cents per share. Earnings, adjusted for non-recurring costs, were $1.57 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The hotel company posted revenue of $5.37 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $5.52 billion.
For the year, the company reported profit of $1.27 billion, or $3.80 per share. Revenue was reported as $20.97 billion.
Marriott expects full-year earnings to be $6.30 to $6.53 per share.
Marriott shares have dropped 21% since the beginning of the year, while the Standard & Poor’s 500 index has fallen 3.5%. In the final minutes of trading on Wednesday, shares hit $120.19, a fall of 6.5% 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 MAR at https://www.zacks.com/ap/MAR