Howard Hughes Corp. Reveals Drop In Q4 Income, but beats estimates

(RTTNews) - Howard Hughes Corp. (HHC) revealed earnings for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $52.75 million, or $1.07 per share. This compares with $113.80 million, or $2.09 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 40.2% to $482.01 million from $805.68 million last year.

Howard Hughes Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $52.75 Mln. vs. $113.80 Mln. last year. -EPS (Q4): $1.07 vs. $2.09 last year. -Analyst Estimates: $0.97 -Revenue (Q4): $482.01 Mln vs. $805.68 Mln last year.