Earnings

Despite higher revenue for the year and fourth quarter, Beverly Hills-based Hilton Hotels Corp. posted lower profits of 2.4% and 8.7%, respectively. Operating income from its hotel sector declined by 8% for the year, while income from the company’s gaming operations were up 15%. A weakening economy and a generally overbuilt hotel industry pose problems for the immediate future, but over the long run the new tax law should help the industry by curtailing investments in hotels as tax shelters, a spokesman said.