Equity Residential Q2 adjusted earnings Beat Estimates

(RTTNews) - Equity Residential (EQR) reported a profit for its second quarter that climbed from last year.

The company's bottom line came in at $315.61 million, or $0.84 per share. This compares with $260.12 million, or $0.70 per share, in last year's second quarter.

Excluding items, Equity Residential reported adjusted earnings of $280.40 million or $0.72 per share for the period.

Analysts had expected the company to earn $0.20 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 8.5% to $598.06 million from $653.53 million last year.

Equity Residential earnings at a glance:

-Earnings (Q2): $280.40 Mln. vs. $330.82 Mln. last year. -EPS (Q2): $0.72 vs. $0.86 last year. -Analysts Estimate: $0.20 -Revenue (Q2): $598.06 Mln vs. $653.53 Mln last year.

-Guidance: Next quarter EPS guidance: $1.38 to $1.42 Full year EPS guidance: $3.03 to $3.13