Shares of Wyndham Worldwide went up last Wednesday after the hotel and timeshare developer posted a significant decrease in second quarter profit.

Wyndham earned $71 million or 39 cents a share compared to $98 million or 55 cents a share last year. Upon an adjusted basis, the timeshare operator would have earned 41 cents per share.

Revenue came in a $920 million, marking a 19 percent decrease behind the stronger US dollar. The company called it “continued weakness in the global lodging industry.”

FactSet Research polled analysts who said that the company could earn 37 cents per share on revenue of $920 million.

“Concentration in the economy and mid-scale segments led it to outperform the overall industry,” noted Wyndham.

“This was a solid quarter for Wyndham and it showed the company is making all efforts to manage its expenses while its top line continues to decline,” said Steve Kent of Goldman Sachs in a note to investors. “These results also once again highlight Wyndham's two relatively stable businesses, lodging and vacation exchange and rental.” 

Source: MarketWatch