HCP, Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - HCP, Inc. (HCP) announced a profit for first quarter that dropped from the same period last year.

The company's earnings totaled $39.84 million, or $0.08 per share. This compares with $460.38 million, or $0.97 per share, in last year's first quarter.

Excluding items, HCP, Inc. reported adjusted earnings of $229.06 million or $0.48 per share for the period.

Analysts had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.6% to $479.20 million from $492.17 million last year.

HCP, Inc. earnings at a glance:

-Earnings (Q1): $229.06 Mln. vs. $243.05 Mln. last year. -EPS (Q1): $0.48 vs. $0.51 last year. -Analysts Estimate: $0.15 -Revenue (Q1): $479.20 Mln vs. $492.17 Mln last year.

-Guidance: Full year EPS guidance: $1.77 to $1.83