Hyatt Hotels (NYSE:H) had a mixed Tuesday as the company reported its latest quarterly earnings figures, which came in ahead of what analysts were calling for, but its stock took a hit late in the day.
The multinational hospitality company said that for its second quarter of fiscal 2018, it brought in a profit of $77 million, which amounted to roughly 66 cents per share in net income. On an adjusted basis when excluding non-recurring costs, the company said that its net income came in at 72 cents per share.
Analysts were calling for Hyatt Hotels to amass earnings of 48 cents per share for its second quarter, according to the average guidance of 11 analysts who were polled by Zacks Investment Research. The hotel operator added that its revenue for the period tallied up to $1.13 billion, which was below what analysts were calling for.
Wall Street’s consensus estimate saw the company’s sales for the period as being roughly $1.14 billion, according to a Zacks survey that polled eight analysts. Hyatt Hotels said that for its fiscal year 2018, it now sees its net income as being approximately in the range of $508 million to $550 million, which is an improvement over its previous guidance of $495 million to $553 million.
H stock was up about 1.7% during regular trading hours as the company geared up to report for its second quarter. Despite the earnings beat, shares fell nearly 0.9% after the bell.