Hyatt Hotels Earnings: Here’s Why Investors are Buying Shares Now
Hyatt Hotels Corporation (NYSE:H) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4%.
Hyatt Hotels Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 79.17% to $0.43 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 7.69% to $1.09 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hyatt Hotels Corporation reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.30. It beat the average revenue estimate of $1.07 billion.
Quoting Management: Mark S. Hoplamazian, president and chief executive officer of Hyatt Hotels Corporation, said, “Our second quarter of 2013 reflected ongoing positive trends in transient demand at U.S. hotels and strong average daily rate progression. Since the beginning of the year, we have executed on our strategy of expanding in new and attractive markets by opening a total of 24 hotels in the United States, India, France, China and South Korea. Eleven of these openings were conversions of existing hotels and drove strong fee growth in the quarter.”
Key Stats (on next page)…