HCP, Inc. Profit Drops 8% In Q3

(RTTNews) - HCP, Inc. (HCP) announced earnings for third quarter that fell compared to the same period last year.

The company said its profit dropped to $336.51 million, or $0.72 per share. This was down from $365.80 million, or $0.79 per share, in last year's third quarter.

Analysts had expected the company to earn $0.71 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 0.5% to $654.27 million. This was down from $657.50 million last year.

HCP, Inc. earnings at a glance:

-Earnings (Q3): $336.51 Mln. vs. $365.80 Mln. last year. -Earnings Decline (Y-o-Y): -8.0% -EPS (Q3): $0.72 vs. $0.79 last year. -EPS Decline (Y-o-Y): -8.9% -Analysts Estimate: $0.71 -Revenue (Q3): $654.27 Mln vs. $657.50 Mln last year. -Revenue Change (Y-o-Y): -0.5%

-Guidance: Full year EPS guidance: $2.69 – $2.75