Summary Box: Starwood Hotels 2Q net income rises

AP News
|
Posted: Jul 28, 2011 7:58 AM
Summary Box: Starwood Hotels 2Q net income rises

THE PERFORMANCE: Starwood Hotels & Resorts Worldwide Inc. reported Thursday that its second-quarter earnings and revenue both improved. Adjusted earnings were 50 cents per share, while revenue totaled $1.43 billion. Analysts predicted earnings of 46 cents per share on revenue of $1.4 billion.

LOOKING AHEAD: The hotel operator boosted its full-year earnings forecast again. Starwood now expects earnings of approximately $1.67 to $1.77 per share. In April the company lifted its guidance to $1.60 to $1.70 per share, up from $1.55 to $1.65 per share. Analysts forecast 2011 earnings of $1.71 per share.