Simon Property Group Inc Bottom Line Retreats In Q2, but beats estimates

Simon Property Group Inc (SPG) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $496.74 million, or $1.51 per share. This compares with $617.26 million, or $1.88 per share, in last year's second quarter.

Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.4% to $1.28 billion from $1.25 billion last year.

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

-Earnings (Q2): $496.74 Mln. vs. $617.26 Mln. last year.
-EPS (Q2): $1.51 vs. $1.88 last year.
-Analyst Estimates: $1.44
-Revenue (Q2): $1.28 Bln vs. $1.25 Bln last year.

Full year EPS guidance: $5.93 to $6.00

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