logo
Share SHARE
FONT-SIZE Plus   Neg

Starwood Hotels & Resorts Worldwide Q1 Profit Rises - Quick Facts

Starwood Hotels & Resorts Worldwide Inc. (HOT: Quote) reported that its first-quarter net income attributable to Common Stockholders was $128 million and $0.65 per share, up from $28 million and $0.14 per share in the first quarter of 2011.

Excluding special items, earnings from continuing operations was $0.63 per share for the first quarter of 2012, including income from The St. Regis Bal Harbour Resort residential project, compared to $0.30 per share in the first quarter of 2011. Analysts polled by Thomson Reuters expected the company to report earnings of $0.52 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $1.72 billion from $1.30 billion in the prior year quarter. Thirteen analysts had consensus revenue estimate of $1.54 billion for the quarter.

For the second-quarter, Including Bal Harbour, earnings per share is expected to be approximately $0.58 to $0.62. Analysts expect the company to report earnings of $0.60 per share for the second-quarter.

For the Full Year 2012, Including Bal Harbour, earnings per share before special items is expected to be approximately $2.35 to $2.46. Previously, the company had expected earnings per share to be about $2.22 to $2.33, inclusive of Bal Harbour. Analysts expect the company to report earnings of $2.31 per share for fiscal 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Federal Communications Commission on Thursday voted along expected lines to adopt new rules to monitor Internet service providers to protect open access and innovation, pacifying consumers and tech companies like Netflix, while creating heartburn for cable and telecom companies. Google Inc. (GOOG, GOOGL) has made a $300 million investment in a fund that will finance residential power projects. SolarCity Corp. (SCTY) Thursday said it has created a fund expected to finance $750 million in residential solar projects with Google investing about $300 million. The new fund... As consumers' choice for mobile payment surges, with smartphone makers, Internet companies and credit card firms in the fray, no clear winner is yet to emerge in this financial landscape that is set to flourish and chisel the fate of businesses, shows a survey commissioned by Placecast.
comments powered by Disqus
Follow RTT