General Growth Properties Q1 Profit Matches Estimates - Quick Facts

(RTTNews) - General Growth Properties, Inc. (GGP) reported first-quarter net income to common stockholders of $630.7 million or $0.66 per share, compared to $124.0 million or $0.13 per share, prior year. The company noted that its net income was impacted primarily by depreciation expense and gain from change in control of investment properties, for the quarter.

Company FFO increased 5.8% to $309 million from $292 million in the prior year period. Funds from operations per share was $0.32, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.32 for the quarter. Analysts' estimates typically exclude special items.

Comparable net operating income, or same store NOI, increased 3.3% to $543 million from $525 million in the prior year period.

Revenue decreased to $594.14 million from $622.89 million last year. Analysts expected revenue of $631.26 million for the quarter.

The company expects FFO for the year ending December 31, 2015 to be $1.40 to $1.46 per share. Analysts expect the company to report 2015 earnings per share of $1.43.

The company expects FFO for the second quarter 2015 to be $0.31 to $0.33 per share. Analysts expect the company to report second-quarter earnings per share of $0.33.