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ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Marriott Vacations Worldwide Corp. (VAC) on Wednesday reported first-quarter earnings of $56 million.
On a per-share basis, the Orlando, Florida-based company said it had profit of $1.46. Earnings, adjusted for non-recurring costs, were $1.66 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The timeshare company posted revenue of $1.2 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.22 billion.
Marriott Vacations Worldwide expects full-year earnings in the range of $6.40 to $7.10 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on VAC at https://www.zacks.com/ap/VAC