Hilton Worldwide Holdings Inc. (NYSE: HLT) announced its financial results for the fourth quarter on Wednesday, with both earnings and revenue beating estimates.
According to the company, revenue rose 24% to $2.28 billion for the fourth quarter, beating analysts’ estimates of $2.24 billion. Net income was $841 million for the fourth quarter. Excluding certain items, the company earned $0.54 per share, also surpassing estimates of $0.45 per share.
“Our performance for the fourth quarter and full year exceeded the high end of our guidance for Adjusted EBITDA and diluted EPS, adjusted for special items. Given the strength of our brand portfolio, we continue to build momentum in both unit and pipeline growth and now have the largest number of rooms under construction in the industry,” Christopher J. Nassetta, the President and Chief Executive Officer of Hilton, said in the statement on Wednesday.
“We feel great about our set up for 2018 and our ability to continue delivering record-setting results,” he continued.
For full year 2018, net income is expected to be in the range of $802 million to $837 million, and adjusted EBITDA is expected to be in the range of $2,030 million to $2,080 million.
Shares of the company increased 4% to $86.51 per share on Wednesday.