(By Balachander) Wyndham Worldwide Corp. (NYSE: WYN) reported better-than-expected quarterly earnings as growth in the company's lodging and vacation ownership businesses boosted revenue and the hospitality company lifted its guidance for 2013.
Wyndham also raised its quarterly dividend 26 percent to 29 cents from 23 cents per share.
Adjusted earnings per share (EPS) jumped 34 percent to 63 cents for the fourth quarter and topped Wall Street projections of 60 cents.
Reported net income jumped 45 percent to $81 million.
Revenue rose 9 percent to $1.1 billion, beating market expectations of a growth of 5.60 percent.
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Lodging revenue grew 19 percent, with Domestic RevPAR up 6 percent and system-wide RevPAR increasing 4 percent. Vacation Ownership revenue rose 12 percent.
Vacation Exchange and Rentals revenue inched higher to $293 million.
Looking ahead for the full year 2013, the company now expects EPS in the range of $3.57 to $3.70 from prior expectations of $3.50 to $3.60. Revenue is now projected to be between $4.925 billion and $5.10 billion from $4.90 billion to $5.05 billion projected earlier.
Analysts expect earnings of $3.62 per share on revenue of $4.82 billion.
The stock, which has been trading in the 52-week range of $40.73 to $57.35, ended at $56.20 on Tuesday.