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Howard Hughes  |  by www.tradingmarkets.com. All rights reserved. 6.11 | 20:41

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(RTTNews) - Tuesday, Hilton Hotels Corp. ( | | | ), an operator of hotels and resorts, reported higher earnings for third quarter that came above Street estimates by a penny, on a 100% revenue growth. The company issued guidance for full year 2006.

Hilton reported net income of $117 million or $0.29 per share, which rose from $89 million or $0.22 per share in the same quarter last year.

On average, 21 analysts polled by First Call/Thomson Financial expected earnings of $0.28 per share for the quarter. Total revenue of $2.

21 billion increased 100% from $1.10 billion in the corresponding quarter previous year. Revenue from the company's owned hotels grew 33% to $649 million and revenue from leased hotels was $679 million, compared to $28 million in the year-ago quarter, the company said.

Hilton Grand Vacations Company, the company's vacation ownership business, had third quarter revenue of $152 million, up 7% from last year. Nine Street analysts estimated revenues of $2.17 billion for the quarter.

For the first nine months, Hilton reported net income of $365 million or $0.89 per share, on revenues of $5.9 billion, compared to net income of $355 million or $0.

87 per share, on revenues of $3.35 billion for the same period previous year. Looking forward, for year 2006, the company expects earnings of about $1.

27 per share on revenues of about $8.14 billion. Twenty-two Street analysts expect earnings of $1.

10 per share and eleven of them have a revenue view of $8.12 billion for full year 2006. HLT is currently trading at $29.

70, up $0.74 or 2.56%.

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