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Vornado Realty Trust Q2 Profit Increases, beats estimates

Vornado Realty Trust (VNO) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $50.42 million, or $0.26 per share. This compares with $48.05 million, or $0.25 per share, in last year's second quarter.

Excluding items, Vornado Realty Trust reported adjusted earnings of $37.40 million or $0.19 per share for the period.

Analysts on average had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.7% to $453.49 million from $378.94 million last year.

Vornado Realty Trust earnings at a glance (GAAP) :

-Earnings (Q2): $50.42 Mln. vs. $48.05 Mln. last year.
-EPS (Q2): $0.26 vs. $0.25 last year.
-Analyst Estimate: $0.12
-Revenue (Q2): $453.49 Mln vs. $378.94 Mln last year.

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