: Hilton beats profit expectations but comes up shy on revenue, provides downbeat earnings outlook #FinanceUSA #StockMarketNEWS Shares of Hilton Worldwide Holdings Inc. dropped 3.0% in premarket trading

@stockMarketNEWS 15 Days ago

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Hilton beats profit expectations but comes up shy on revenue, provides downbeat earnings outlook #FinanceUSA #StockMarketNEWS
Shares of Hilton Worldwide Holdings Inc. dropped 3.0% in premarket trading Tuesday after the hotel operator reported first-quarter profit that topped expectations, while revenue nearly doubled but missed forecasts and RevPAR came up shy. The company swung to net income of million, or 75 cents a share, from a loss of 8 million, or 39 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 71 cents topped the FactSet consensus of 66 cents. Revenue jumped 196.9% to .72 billion, but was below the FactSet consensus of .75 billion. Revenue per available room (RevPAR) of .84, which was up 80.5% from a year ago but down 17.0% from the same period in pre-pandemic 2019, was shy of the FactSet consensus of .20. For the second quarter, Hilton expects adjusted EPS of 98 cents to .03, below the FactSet consensus of .07, while comparable RevPAR is expected to increase 45% to 50% from last year but be down 5% to 10% from 2019. The stock has slipped 0.4% year to date while the S&P 500 has shed 12.8%.

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