Simon Property Group Inc Q2 adjusted earnings Beat Estimates

(RTTNews) - Simon Property Group Inc (SPG) announced a profit for its second quarter that climbed from the same period last year.

The company's earnings came in at $617.26 million, or $1.88 per share. This compares with $254.21 million, or $0.83 per share, in last year's second quarter.

Excluding items, Simon Property Group Inc reported adjusted earnings of $1.22 billion or $3.24 per share for the period.

Analysts had expected the company to earn $1.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.9% to $1.25 billion from $1.06 billion last year.

Simon Property Group Inc earnings at a glance:

-Earnings (Q2): $1.22 Bln. vs. $0.75 Bln. last year. -EPS (Q2): $3.24 vs. $2.12 last year. -Analysts Estimate: $1.00 -Revenue (Q2): $1.25 Bln vs. $1.06 Bln last year.

-Guidance: Full year EPS guidance: $5.47 to $5.57