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Simon Property Group Inc Q1 adjusted earnings Beat Estimates

Simon Property Group Inc (SPG) announced earnings for its first quarter that advanced from the same period last year.

The company's earnings came in at $620.65 million, or $2.00 per share. This compares with $477.74 million, or $1.53 per share, in last year's first quarter.

Excluding items, Simon Property Group Inc reported adjusted earnings of $1.03 billion or $2.87 per share for the period.

Analysts had expected the company to earn $1.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.0% to $1.39 billion from $1.35 billion last year.

Simon Property Group Inc earnings at a glance:

-Earnings (Q1): $1.03 Bln. vs. $985.0 Mln. last year.
-EPS (Q1): $2.87 vs. $2.74 last year.
-Analysts Estimate: $1.52
-Revenue (Q1): $1.39 Bln vs. $1.35 Bln last year.

Full year EPS guidance: $11.95 - $12.05

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