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BETHESDA, Md. (AP) _ Marriott International Inc. (MAR) on Monday reported first-quarter earnings of $31 million.
The Bethesda, Maryland-based company said it had profit of 9 cents per share. Earnings, adjusted for non-recurring costs, came to 26 cents per share.
The results missed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The hotel company posted revenue of $4.68 billion in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $4.06 billion.
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Marriott shares have fallen 42% since the beginning of the year, while the Standard & Poor’s 500 index has declined slightly more than 9%. The stock has decreased 36% 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
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