[ad_1]
CHICAGO (AP) _ Hyatt Hotels Corp. (H) on Wednesday reported a loss of $ 203 million in the fourth quarter, after reporting a profit for the same period a year earlier.
The Chicago-based company said it suffered a loss of $ 2 per share. Losses, adjusted for one-time costs, were $ 1.77 per share.
The results fell short of Wall Street’s expectations. The average estimate of nine analysts polled by Zacks Investment Research was a loss of $ 1.36 per share.
The hotel operator posted revenue of $ 424 million over the period, which also fell short of Street’s forecast. Six analysts surveyed by Zacks forecast $ 453.6 million.
Shares of Hyatt Hotels have climbed nearly 6% since the start of the year. In the final minutes of trading on Wednesday, shares hit $ 78.44, a 12% drop over the past 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks inventory report on H at https://www.zacks.com/ap/H
Source link
