Alexandria Q2 Profit Misses Street, But Revenues Beat

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) on Monday reported second-quarter revenues that beat Street estimates, while earnings fell short of expectations.

The company reported a net income of $87.26 million or $0.51 per share for the quarter, a decrease from last year's profit of $269.28 million or $1.67 per share.

The average estimate of analysts polled by Thomson Reuters was $0.63 per share.

Adjusted FFO was $382.38 million or $2.24 per share, compared to $338.80 million or $2.10 per share the prior year.

Revenue increased to $713.90 million from $643.76 million the previous year. It beat consensus estimate of $694.54 million.

For the full year, the company sees earnings of $2.72 to $2.78 per share, compared to the consensus of earnings per share of $ 3.09.