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Marriott reports increased profits in 2nd quarter

(File photo)

(File photo)

Marriott International Inc. reported second-quarter profit of $414 million, a 68 percent increase over the $247 million in profit it earned in the same period in the prior year.

Though the earnings are increased year-over-year, the second quarter of 2016 was before the company acquired Starwood Hotels & Resorts Worldwide. Using accounting methods to suppose Starwood had been a part of Marriott last year, the company also reported adjusted profits  $432 million, a 30 percent increase over 2016 second quarter combined profit of $333 million.

Diluted earnings per share was $1.08, a 13 percent increase from 96 cents in the prior year’s second quarter.

Reported diluted earnings per share (EPS) was $1.08 in the quarter, a 13 percent increase from diluted EPS of $0.96 in the year-ago quarter.

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