Simon Property Group Inc Q1 Profit Falls, but beats estimates

(RTTNews) - Simon Property Group Inc (SPG) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $426.63 million, or $1.30 per share. This compares with $445.86 million, or $1.36 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.8% to $1.30 billion from $1.24 billion last year.

Simon Property Group Inc earnings at a glance (GAAP) :

-Earnings (Q1): $426.63 Mln. vs. $445.86 Mln. last year. -EPS (Q1): $1.30 vs. $1.36 last year. -Analyst Estimates: $1.29 -Revenue (Q1): $1.30 Bln vs. $1.24 Bln last year.

-Guidance: Full year EPS guidance: $5.93 to $6.08