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ILG misses Street 3Q forecasts

MIAMI (AP) _ ILG Inc. (ILG) on Tuesday reported third-quarter profit of $29 million.

On a per-share basis, the Miami-based company said it had profit of 23 cents. Earnings, adjusted for non-recurring costs, came to 28 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The time-share property manager posted revenue of $446 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $447.7 million.

ILG shares have increased 66 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $30.13, a climb of 85 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ILG at https://www.zacks.com/ap/ILG