Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Chinese hotel operator Home Inns & Hotels Management (NAS: HMIN) were feeling rather hospitable today, up by as much as 11%, after the company reported quarterly earnings yesterday.
So what: Third-quarter revenue rang up to $154.9 million, leading to earnings per share of $0.45. Both figures came in higher than the market's expectations of $142.1 million in sales and earnings per share of $0.43. Shareholders were focusing on the good news and brushed off the fact that next quarter's guidance came in below the consensus.
Now what: The company sees fourth-quarter revenue in the range of $156 million to $159.1 million, while analysts are looking for $176 million. The company's strong quarter was attributed to better-than-expected performance and continued operational improvements at mature hotels outside Shanghai. Home Inns opened its 1,000th hotel during the quarter and now operates in 174 cities in China.
Interested in more info on Home Inns & Hotels Management? Add it to yourwatchlist.
At the time thisarticle was published Fool contributorEvan Niuholds no position in any company mentioned. Check out hisholdings and a short bio. Try any of our Foolish newsletter servicesfree for 30 days. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.