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Aug 5, 11:38 AM
Marriott Beats Q2 Estimates on Overseas Strength, Trims Full-Year Outlook
Company Earnings
Business

Marriott Beats Q2 Estimates on Overseas Strength, Trims Full-Year Outlook

Authors
  • Bloomberg
  • WSJ Business News
  • AlphaSense
5

Marriott International Inc. posted second-quarter earnings that exceeded analyst expectations, as robust demand in overseas markets offset softer conditions in the United States. Global revenue per available room rose 1.5% from a year earlier, lifted by a 5.3% jump internationally, while RevPAR in the U.S. and Canada was flat. Reported diluted earnings per share reached $2.78, and adjusted diluted EPS came in at $2.65 on revenue of $6.74 billion. Net income totaled $763 million. The hotel operator said its development pipeline expanded to more than 590,000 rooms, the highest on record. Despite the strong quarter, Marriott narrowed its full-year guidance, citing moderating domestic demand. Management said the company will continue to rely on its growing international footprint and extensive pipeline to drive results in the second half of the year.

Written with ChatGPT .

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