Equity Residential Q3 adjusted earnings Beat Estimates

(RTTNews) - Equity Residential (EQR) released a profit for third quarter that declined from the same period last year.

The company's bottom line came in at $90.51 million, or $0.24 per share. This compares with $266.33 million, or $0.71 per share, in last year's third quarter.

Excluding items, Equity Residential reported adjusted earnings of $295.92 million or $0.77 per share for the period.

Analysts had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.2% to $622.43 million from $685.12 million last year.

Equity Residential earnings at a glance:

-Earnings (Q3): $295.92 Mln. vs. $351.88 Mln. last year. -EPS (Q3): $0.77 vs. $0.91 last year. -Analysts Estimate: $0.35 -Revenue (Q3): $622.43 Mln vs. $685.12 Mln last year.