UPDATE 1-Marriott posts higher-than-expected quarterly profit
* Third-quarter net income 44 cents a share
* Analysts expected 40 cents on average
* Forecast lags analyst views
(Adds estimates, outlook)
Oct 3 (Reuters) - Hotel operator Marriott International
reported a higher-than-expected quarterly profit on Wednesday as its corporate business showed strength, but the company's profit outlook for the current quarter came in below average analyst estimates.
Net income came to $143 million, or 44 cents a share, in the fiscal third quarter ended Sept. 7, compared with a loss of $179 million, or 52 cents a share, a year earlier. The number of shares outstanding declined in the quarter, with the repurchase of 9.6 million shares.
Analysts expected 40 cents a share, on average, according to Thomson Reuters I/B/E/S.
Quarterly revenue fell to $2.73 billion from $2.87 billion a year earlier.
(Reporting by Karen Jacobs in Atlanta; Editing by Leslie Adler)
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Keywords: MARRIOTT RESULTS/