Equity Residential Q2 Income Declines, but beats estimates

(RTTNews) - Equity Residential (EQR) released a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $223.33 million, or $0.59 per share. This compares with $315.61 million, or $0.84 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.9% to $687.03 million from $598.06 million last year.

Equity Residential earnings at a glance (GAAP) :

-Earnings (Q2): $223.33 Mln. vs. $315.61 Mln. last year. -EPS (Q2): $0.59 vs. $0.84 last year. -Analyst Estimates: $0.29 -Revenue (Q2): $687.03 Mln vs. $598.06 Mln last year.