Marriott International reported mixed first-quarter 2019 results. Earnings beat estimates but revenue did not. This marked the fifth straight quarter of revenue miss.
Adjusted earnings came in at $1.41 per share, outpacing estimates of $1.34 and increasing 5% year over year. The upside was driven by lower effective tax rate as well as increase in room rates. Total revenue of $5,012 million missed the consensus mark of $5,117 million. However, the top line was almost flat with the prior-year quarter number.