Apartment Investment & Management Co. Q1 Earnings Advance

(RTTNews) - Apartment Investment & Management Co. (AIV) released a profit for its first quarter that increased from last year.

The company's profit came in at $20.21 million, or $0.14 per share. This compares with $4.43 million, or $0.03 per share, in last year's first quarter.

Analysts had expected the company to earn -$0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.9% to $39.80 million from $38.31 million last year.

Apartment Investment & Management Co. earnings at a glance:

-Earnings (Q1): $20.21 Mln. vs. $4.43 Mln. last year. -EPS (Q1): $0.14 vs. $0.03 last year. -Analysts Estimate: -$0.07 -Revenue (Q1): $39.80 Mln vs. $38.31 Mln last year.