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What: Shares of Chinese hotel operator Home Inns & Hotels Management
So what: Third-quarter revenue rang up to $154.9 million, leading to earnings per share of $0.45. Both figures came in higher than the market's expectations of $142.1 million in sales and earnings per share of $0.43. Shareholders were focusing on the good news and brushed off the fact that next quarter's guidance came in below the consensus.
Now what: The company sees fourth-quarter revenue in the range of $156 million to $159.1 million, while analysts are looking for $176 million. The company's strong quarter was attributed to better-than-expected performance and continued operational improvements at mature hotels outside Shanghai. Home Inns opened its 1,000th hotel during the quarter and now operates in 174 cities in China.
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Fool contributor Evan Niu holds no position in any company mentioned. Check out his holdings and a short bio. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.