Equity Residential Q1 Income Rises, but misses estimates

(RTTNews) - Equity Residential (EQR) released a profit for its first quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $69.99 million, or $0.19 per share. This compares with $56.77 million, or $0.15 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.3% to $653.35 million from $597.60 million last year.

Equity Residential earnings at a glance (GAAP) :

-Earnings (Q1): $69.99 Mln. vs. $56.77 Mln. last year. -EPS (Q1): $0.19 vs. $0.15 last year. -Analyst Estimate: $0.24 -Revenue (Q1): $653.35 Mln vs. $597.60 Mln last year.

-Guidance: Next quarter EPS guidance: $1.00 to $1.04