Hilton Worldwide Holdings, Inc. (HLT) has announced its financial results for the third quarter, showing a decrease in profit compared to the same period last year, but it has surpassed Wall Street's expectations.
For the quarter, the company reported a net income of $344 million, translating to $1.38 per share. This figure is down from $377 million, or $1.44 per share, recorded in the third quarter of the previous year.
When excluding special items, Hilton's adjusted earnings stood at $477 million, or $1.92 per share for the quarter.
Analysts, on average, anticipated the company's earnings to be $1.85 per share, according to data from Thomson Reuters. These analyst expectations typically exclude special items.
The company's third-quarter revenue saw a 7.3% increase, rising to $2.867 billion, up from $2.673 billion in the same period last year.
A summary of Hilton Worldwide Holdings, Inc.'s earnings (GAAP basis) is as follows:
- Earnings for Q3: $344 million, compared to $377 million last year.
- Earnings per Share (EPS) for Q3: $1.38, down from $1.44 last year.
- Revenue for Q3: $2.867 billion, up from $2.673 billion last year.
Looking ahead, Hilton has provided guidance for its next quarter and full year:
- Next quarter EPS guidance: between $1.57 and $1.67.
- Full-year EPS guidance: between $6.93 and $7.03.
