Wyndham Worldwide Q2 Profit Rises; Lifts FY13 Adj. EPS View - Quick Facts

(RTTNews) - Wyndham Worldwide Corp. (WYN) reported that its second quarter net income was $133 million, or $0.98 per share, up from $128 million or $0.88 per share last year. Adjusted net income for the prior year quarter was $128 million, or $0.87 per share. The increase in net income reflects stronger operating results in all of the Company's segments. Earnings per share also benefited from the Company's share repurchase program.

Net revenues for the quarter rose to $1.25 billion, from the prior year's $1.14 billion. The increase reflected strong growth across all of the Company's business segments.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.91 per share and revenues of $1.24 billion for the quarter. Analysts' estimates typically exclude special items.

The company announced that its Board of Directors approved a $750 million increase in the share repurchase authorization, bringing the available authorization to $874 million.

The company raised its fiscal 2013 adjusted earnings guidance in a range of $3.66 - $3.76 per share, from the prior estimate of $3.60 - $3.70 per share. The company still expects revenues to be in the range of approximately $4.925 billion - $5.100 billion for fiscal 2013. Analysts expect the company to report earnings of $3.71 per share and revenues of $4.95 billion for fiscal 2013.