UPDATE: Wyndham Worldwide Reports Q1 Net Income of $72 million, Lifts Earnings Guidance

Wyndham Worldwide Corp WYN reported its results for the first quarter on Wednesday. WYN reported its Q1 net income at $72 million, or $0.41 per share, up from $50 million, or $0.27 per share, in the year-earlier period. The company's net revenue increased to $952 million, from $886 million. However, analysts were expecting earnings of $0.40 per share on revenue of $969.6 million. Wyndham's board of directors approved an increase of $500 million to its share buyback program. The company also raised its full-year 2011 adjusted earnings forecast to $2.15 to $2.25 per share from $2.05 per share. WYN shares gained 0.30% to close at $33.14 yesterday. Read more from Benzinga's Company news.