Simon Property Group Inc Bottom Line Climbs In Q1, but misses estimates

(RTTNews) - Simon Property Group Inc (SPG) announced a profit for its first quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $451.83 million, or $1.38 per share. This compares with $426.63 million, or $1.30 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.8% to $1.35 billion from $1.30 billion last year.

Simon Property Group Inc earnings at a glance (GAAP) :

-Earnings (Q1): $451.83 Mln. vs. $426.63 Mln. last year. -EPS (Q1): $1.38 vs. $1.30 last year. -Analyst Estimate: $1.39 -Revenue (Q1): $1.35 Bln vs. $1.30 Bln last year.

-Guidance: Full year EPS guidance: $6.45 to $6.60