By Imani Moise
Hotel operator Marriott International Inc. reported first-quarter earnings after the closing bell Tuesday. Here's what you need to know:
REVENUE: Sales rose 1.9% to $5.01 billion, missing the $5.75 billion analysts were looking for.
EARNINGS: Profit rose to $398 million, or $1.09 a share, from $371 million, or 95 cents a year earlier. On an adjusted basis earnings jumped 40% to $1.34 a share. Analysts polled by Thomson Reuters had forecast earnings of $1.22 a share.
OUTLOOK: The company raised its earnings per share outlook to $5.43 to $5.55 compared with prior guidance of $5.22 to $5.45.
STOCK MOVE: Shares fell 1.5% to $137.20 in the extended session after rising 2% during Tuesday trading. The stock has rallied 45% over the past year while the S&P 500 has risen 11%.
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