Simon Property Group Inc Q3 Income Drops, but beats estimates

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

The company's earnings totaled $539.04 million, or $1.65 per share. This compares with $679.94 million, or $2.07 per share, in last year's third 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 1.5% to $1.32 billion from $1.30 billion last year.

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

-Earnings (Q3): $539.04 Mln. vs. $679.94 Mln. last year.
-EPS (Q3): $1.65 vs. $2.07 last year.
-Analyst Estimates: $1.44
-Revenue (Q3): $1.32 Bln vs. $1.30 Bln last year.

Full year EPS guidance: $6.16 to $6.21

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