Alexandria Real Estate Equities, Inc. Q2 Income Falls, but beats estimates

(RTTNews) - Alexandria Real Estate Equities, Inc. (ARE) released a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $269.3 million, or $1.67 per share. This compares with $380.6 million, or $2.61 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.3% to $643.8 million from $509.6 million last year.

Alexandria Real Estate Equities, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $269.3 Mln. vs. $380.6 Mln. last year. -EPS (Q2): $1.67 vs. $2.61 last year. -Analyst Estimates: $0.66 -Revenue (Q2): $643.8 Mln vs. $509.6 Mln last year.