The post Marriott Beats Wall Street Estimates, Delivers Impressive Q2 Results appeared first on theprimarymarket.com.
]]>The world’s biggest hotel chain blew away Wall Street estimates, reporting $5.34 billion in net sales versus the $5.02 billion predicted. The company’s adjusted earnings per share clocked at $1.80 compared to $1.57 expected, while adjusted full-year EPS guidance is now $6.33 to $6.59 vs. $5.97 expected. Finally, Marriott’s net income stands at $678 million, which marks a substantial increase compared to $422 million in the same period last year.
Speaking with the media on Tuesday, Marriott CEO Anthony Capuano said that these impressive results are a testament to the company’s business model.
“Marriott’s second-quarter results highlight consumers’ love for travel,” Capuano added. “We reported outstanding results, as momentum in global lodging recovery continued.”
Marriott stock (MAR) saw a 2% jump after Q2 results were made public, going from $159.57 close on Monday to $162.20 per share on Tuesday morning. MAR has been consistent throughout the year, avoiding the slide that hit most other stocks. At the moment, Marriott shares are only 3.40% down year to date.
The post Marriott Beats Wall Street Estimates, Delivers Impressive Q2 Results appeared first on theprimarymarket.com.
]]>The post Marriott Beats Wall Street Estimates, Delivers Impressive Q2 Results appeared first on theprimarymarket.com.
]]>The world’s biggest hotel chain blew away Wall Street estimates, reporting $5.34 billion in net sales versus the $5.02 billion predicted. The company’s adjusted earnings per share clocked at $1.80 compared to $1.57 expected, while adjusted full-year EPS guidance is now $6.33 to $6.59 vs. $5.97 expected. Finally, Marriott’s net income stands at $678 million, which marks a substantial increase compared to $422 million in the same period last year.
Speaking with the media on Tuesday, Marriott CEO Anthony Capuano said that these impressive results are a testament to the company’s business model.
“Marriott’s second-quarter results highlight consumers’ love for travel,” Capuano added. “We reported outstanding results, as momentum in global lodging recovery continued.”
Marriott stock (MAR) saw a 2% jump after Q2 results were made public, going from $159.57 close on Monday to $162.20 per share on Tuesday morning. MAR has been consistent throughout the year, avoiding the slide that hit most other stocks. At the moment, Marriott shares are only 3.40% down year to date.
The post Marriott Beats Wall Street Estimates, Delivers Impressive Q2 Results appeared first on theprimarymarket.com.
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