Park Hotels & Resorts: Q3 Earnings Snapshot

TYSONS, Va. (AP) _ Park Hotels & Resorts Inc. (PK) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The Tysons, Virginia-based real estate investment trust said it had funds from operations of $5 million, or 2 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was less than 1 cent on a per-share basis for funds from operations.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $86 million, or 36 cents per share.

Park Hotels & Resorts, based in Tysons, Virginia, posted revenue of $423 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $416.9 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PK at https://www.zacks.com/ap/PK

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