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.
-Guidance:
Full year EPS guidance: $5.93 to $6.08
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