Paramount Group Inc Q4 Profit Decreases, but beats estimates

(RTTNews) - Paramount Group Inc (PGRE) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $1.2 million, or $0.01 per share. This compares with $14.8 million, or $0.07 per share, in last year's fourth quarter.

Excluding items, Paramount Group Inc reported adjusted earnings of $53.4 million or $0.24 per share for the period.

Analysts on average had expected the company to earn $0.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.0% to $184.2 million from $182.4 million last year.

Paramount Group Inc earnings at a glance (GAAP) :

-Earnings (Q4): $1.2 Mln. vs. $14.8 Mln. last year. -EPS (Q4): $0.01 vs. $0.07 last year. -Analyst Estimates: $0.03 -Revenue (Q4): $184.2 Mln vs. $182.4 Mln last year.