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Equity Residential Q1 adjusted earnings Beat Estimates

Equity Residential (EQR) announced earnings for its first quarter that rose from the same period last year.

The company's profit came in at $211.04 million, or $0.57 per share. This compares with $142.97 million, or $0.39 per share, in last year's first quarter.

Excluding items, Equity Residential reported adjusted earnings of $293.61 million or $0.77 per share for the period.

Analysts had expected the company to earn $0.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $633.02 million from $604.10 million last year.

Equity Residential earnings at a glance:

-Earnings (Q1): $293.61 Mln. vs. $283.72 Mln. last year.
-EPS (Q1): $0.77 vs. $0.74 last year.
-Analysts Estimate: $0.28
-Revenue (Q1): $633.02 Mln vs. $604.10 Mln last year.

Next quarter EPS guidance: $0.77 to $0.81
Full year EPS guidance: $3.17 to $3.27

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