Marriott International, Inc. (MAR) reported first quarter 2013 net income totaled $136 million or $0.43 per share, compared to $104 million or $0.30 per share for the year-ago quarter.
Total revenue for the first quarter rose 23% to $3.14 billion from $2.55 billion a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.40 per share on revenue of $2.81 billion for the first quarter.
For the 2013 first quarter, REVPAR for worldwide comparable systemwide properties increased 4.6%.
Due to the company's change in the fiscal calendar beginning in 2013, the first quarter of 2013 reflects the period from December 29, 2012 through March 31, 2013 (93 days) compared to the 2012 first quarter, which reflects the period from December 31, 2011 through March 23, 2012 (84 days). Prior year results have not been restated for the change in fiscal calendar.
The company said it now expects full year 2013 diluted EPS to be in the range of $1.93 to $2.08, a 12% to 21% increase year-over-year. In February, the company forecast full year 2013 earnings of $1.90 to $2.05 per share, a 10% to 19% increase year-over-year. Analysts currently expect earnings of $2.01 per share.
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