Business briefs for April 29, 2002

Monday, April 29, 2002 | 11:27 a.m.

Las Vegas hotel chain earnings down

LANHAM, Md. -- Marriott International's first-quarter earnings were down 32 percent from last year, but still surpassed Wall Street expectations and the hotel operator's own earnings forecast.

The Bethesda-based firm, which owns several Las Vegas hotels, reported earnings of 32 cents per share for the first quarter on net income of $82 million. That was down from 47 cents per share, or $121 million, in the same period last year.

Analysts surveyed by Thomson Financial/First Call expected Marriott would earn 27 cents per share in the first quarter, and the company had predicted earnings would be between 26 and 27 cents per share.

Railroad beats Wall Street estimates

OMAHA, Neb. -- Union Pacific Corp. reported a 23 percent increase in first quarter net income Thursday, crediting lower fuel costs and higher employee productivity at the nation's largest railroad.

Net income was $222 million, or 86 cents a share in the three months ended March 31, compared with $181 million, or 72 cents a share in the same period last year.

Earnings per share beat Wall Street estimates of 83 cents a share in a survey of analysts by Thomson Financial/First Call.