Park Hotels & Resorts: Q2 Earnings Snapshot

TYSONS, Va. (AP) — TYSONS, Va. (AP) — Park Hotels & Resorts Inc. (PK) on Thursday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.

The real estate investment trust, based in Tysons, Virginia, said it had funds from operations of $129 million, or 64 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 57 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $5 million, or 2 cents per share.

Park Hotels & Resorts, based in Tysons, Virginia, posted revenue of $672 million in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $673.1 million.

Park Hotels & Resorts expects full-year funds from operations in the range of $1.82 to $2.08 per share.

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