Simon Property Group Inc Q1 Profit Falls, but beats estimates

Simon Property Group Inc (SPG) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $426.63 million, or $1.30 per share. This compares with $445.86 million, or $1.36 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.29 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 $1.30 billion from $1.24 billion last year.

Simon Property Group Inc earnings at a glance (GAAP) :

-Earnings (Q1): $426.63 Mln. vs. $445.86 Mln. last year.
-EPS (Q1): $1.30 vs. $1.36 last year.
-Analyst Estimates: $1.29
-Revenue (Q1): $1.30 Bln vs. $1.24 Bln last year.

Full year EPS guidance: $5.93 to $6.08

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