Marriott International posts $726M profit in Q2 earning report

Bethesda-based Marriott International Inc. (File photo/Marriott International)

Daily Record Staff//August 1, 2023//

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Marriott International Inc. on Tuesday reported second-quarter profit of $726 million.

On a per-share basis, the Bethesda-based company said it had profit of $2.38. Earnings, adjusted for non-recurring gains, were $2.26 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.

The hotel company posted revenue of $6.08 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $6.05 billion.

For the current quarter ending in September, Marriott expects its per-share earnings to range from $2 to $2.09. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.81.

The company expects full-year earnings in the range of $8.36 to $8.65 per share.