General Growth Properties Inc. Q1 Earnings Drop 10%

(RTTNews) - General Growth Properties Inc. (GGP) announced a profit for first quarter that retreated compared to the same period last year.

The company said its bottom line totaled $346.22 million, or $0.36 per share. This was lower than $382.80 million, or $0.40 per share, in last year's first quarter.

The company said revenue for the quarter fell 6.7% to $566.33 million. This was down from $607.03 million last year.

General Growth Properties Inc. earnings at a glance:

-Earnings (Q1): $346.22 Mln. vs. $382.80 Mln. last year. -Earnings Decline (Y-o-Y): -9.6% -EPS (Q1): $0.36 vs. $0.40 last year. -EPS Decline (Y-o-Y): -10.0% -Revenue (Q1): $566.33 Mln vs. $607.03 Mln last year. -Revenue Change (Y-o-Y): -6.7%

-Guidance: Next quarter EPS guidance: $0.34 - $0.36 Full year EPS guidance: $1.56 - $1.60