CHICAGO (AP) — CHICAGO (AP) — Hyatt Hotels Corp. (H) on Thursday reported fourth-quarter net income of $294 million, after reporting a loss in the same period a year earlier.
The Chicago-based company said it had net income of $2.69 per share. Earnings, adjusted for one-time gains and costs, came to $2.55 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The hotel operator posted revenue of $1.59 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1.5 billion.
For the year, the company reported net income of $455 million, or $4.09 per share, swinging to a profit in the period. Revenue was reported as $5.89 billion.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a H">Zacks stock report on H at https://www.zacks.com/ap/H