Marriott Posts Q2 Earnings Above Street View Helped By Strong Demand; Raises FY23 Outlook
Portfolio Pulse from Shivani Kumaresan
Marriott International Inc (NASDAQ:MAR) reported Q2 FY23 sales growth of 14% YoY to $6.08 billion, beating the analyst consensus. The company also raised its FY23 outlook. In Q2, Marriott repurchased 5.2 million shares of common stock for $903 million and returned $2.6 billion to shareholders year-to-date through July 28.
August 04, 2023 | 9:46 am
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POSITIVE IMPACT
Marriott's Q2 FY23 sales growth and raised FY23 outlook could positively impact its stock price.
Marriott's better-than-expected Q2 FY23 sales and raised FY23 outlook indicate strong performance and positive future expectations, which are likely to be viewed favorably by investors and could drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100