Simon Property Group Inc Q4 adjusted earnings Beat Estimates

(RTTNews) - Simon Property Group Inc (SPG) revealed a profit for fourth quarter that fell from last year.

The company's bottom line came in at $271.48 million, or $0.86 per share. This compares with $510.19 million, or $1.66 per share, in last year's fourth quarter.

Excluding items, Simon Property Group Inc reported adjusted earnings of $686.17 million or $2.17 per share for the period.

Analysts had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 24.2% to $1.13 billion from $1.49 billion last year.

Simon Property Group Inc earnings at a glance:

-Earnings (Q4): $686.17 Mln. vs. $907.17 Mln. last year. -EPS (Q4): $2.17 vs. $2.96 last year. -Analysts Estimate: $0.87 -Revenue (Q4): $1.13 Bln vs. $1.49 Bln last year.