UPDATE: Wyndham Worldwide Reports Upbeat Q2 Profit, Boosts 2011 Forecast

Wyndham Worldwide Corp WYN reported a 20% rise in its second-quarter net income. WYN's quarterly net income surged to $114 million, or $0.67 per share, from $95 million, or $0.51 per share, in the year-earlier period. Excluding one-time items, the company's earnings came in at $0.64 per share. Its revenue climbed to $1.09 billion from $963 million. However, analysts were expecting earnings of $0.56 per share on revenue of $1.05 billion. Wyndham Worldwide raised its full-year 2011 adjusted earnings forecast to a range of $2.32 to $2.40 per share, from $2.15 to $2.25 per share, and revenue projections to $4.2 billion to $4.3 billion, from $4 billion to $4.2 billion. Wyndham Worldwide shares fell 0.06% to close at $34.17 yesterday.