Why Marriott International Stock Blasted Higher Today
Wednesday was a fine day to be a Marriott International (NYSE: MAR) shareholder. The company not only posted estimate-busting first-quarter results, but it also reinstated its dividend. These developments pushed the hotelier's stock nearly 5% higher on the day.
For the quarter, Marriott's revenue zoomed 81% higher on a year-over-year basis to just under $4.2 billion. The change in non-GAAP (adjusted) net profit was even more dramatic, at $413 million ($1.25 per share) vs. the $34 million in first-quarter 2021.
Image source: Getty Images.
Source Fool.com
