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Hilton's profits more than doubled in the first quarter

(Reuters) - Hilton Worldwide Holdings Inc , the owner of the Waldorf Astoria hotel chain, reported a quarterly profit that more than doubled, helped by tax benefits and higher room rates.

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The net income attributable to stockholders rose to $309 million, or 31 per share, in the first quarter ended March 31 from $150 million, or 15 cents per share, a year earlier.

A view shows the Hilton hotel in central Kiev, Ukraine, April 4, 2016. REUTERS/Gleb Garanich
View shows Hilton hotel in Kiev Thomson Reuters

Excluding tax benefits, Hilton earned 17 cents per share in the latest quarter.

Revenue rose about 6 percent to $2.75 billion. 

(Reporting by Arunima Banerjee and Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.
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