Marriott Q1 Profit Rises

(RTTNews) - Marriott International, Inc. (MAR) reported net income for the first quarter of $207 million or $0.73 per share, compared to $172 million or $0.57 per share for the year-ago quarter.

The latest quarter results results include impairment charges totaling $12 million pretax while the prior year quarter included both a $10 million pretax impairment charge and a net $16 million tax benefit.

Total revenue for the first quarter rose 7% to $3.51 billion from $3.29 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.70 per share on revenue of $3.59 billion for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts earnings of $0.78 to $0.83 per share for the second quarter. The company still forecasts earnings of $3.00 to $3.12 per share for the full year 2015. Analysts currently expect the company to earn $0.83 per share for the second quarter and $3.08 per share for the full year 2015.