Simon Property Group Inc Q2 adjusted earnings Beat Estimates

(RTTNews) - Simon Property Group Inc (SPG) reported a profit for its second quarter that increased from the same period last year.

The company's bottom line totaled $547.00 million, or $1.77 per share. This compares with $381.99 million, or $1.23 per share, in last year's second quarter.

Excluding items, Simon Property Group Inc reported adjusted earnings of $1.06 billion or $2.98 per share for the period.

Analysts had expected the company to earn $1.64 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.2% to $1.39 billion from $1.36 billion last year.

Simon Property Group Inc earnings at a glance:

-Earnings (Q2): $1.06 Bln. vs. $884.74 Mln. last year. -EPS (Q2): $2.98 vs. $2.47 last year. -Analysts Estimate: $1.64 -Revenue (Q2): $1.39 Bln vs. $1.36 Bln last year.