General Growth Properties Inc. Q2 Earnings Drop 33%

(RTTNews) - General Growth Properties Inc. (GGP) released a profit for second quarter that fell compared to the same period last year.

The company said its bottom line totaled $121.88 million, or $0.13 per share. This was lower than $181.96 million, or $0.19 per share, in last year's second quarter.

Analysts had expected the company to earn $0.09 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.3% to $555.79 million. This was down from $574.59 million last year.

General Growth Properties Inc. earnings at a glance:

-Earnings (Q2): $121.88 Mln. vs. $181.96 Mln. last year. -Earnings Decline (Y-o-Y): -33.0% -EPS (Q2): $0.13 vs. $0.19 last year. -EPS Decline (Y-o-Y): -31.6% -Analysts Estimate: $0.09 -Revenue (Q2): $555.79 Mln vs. $574.59 Mln last year. -Revenue Change (Y-o-Y): -3.3%

-Guidance: Next quarter EPS guidance: $0.10 - $0.12 Full year EPS guidance: $0.56 - $0.60