Extra Space Storage Inc. Announces Fall In Q1 Bottom Line, but beats estimates

(RTTNews) - Extra Space Storage Inc. (EXR) reported a profit for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $196.30 million, or $1.46 per share. This compares with $203.58 million, or $1.51 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.4% to $503.05 million from $443.56 million last year.

Extra Space Storage Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $196.30 Mln. vs. $203.58 Mln. last year. -EPS (Q1): $1.46 vs. $1.51 last year. -Analyst Estimates: $1.41 -Revenue (Q1): $503.05 Mln vs. $443.56 Mln last year.