In December, Hilton Worldwide Holdings (HLT) pulled off a $2.35 billion IPO. On its first day of trading, the stock climbed about 7.5%. But Hilton’s first earnings report as a public company was a bit lackluster. So far in today’s trading, HLT stock is down about 2%.
The Hilton earnings report was a mixed bag. On the positive side of things, revenues rose by 13% to $2.64 billion, which was above the Street consensus of $2.46 billion. However, the profits were subpar.
When adjusting for one-time items, Hilton earnings came to 11 cents per share, which was a one penny increase on a year-over-year basis. However the analysts’ consensus was for a much more robust 17 cents per share on HLT stock. Read