Vornado Realty Trust Q1 Profit Increases, beats estimates

(RTTNews) - Vornado Realty Trust (VNO) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $26.48 million, or $0.14 per share. This compares with $4.08 million, or $0.02 per share, in last year's first quarter.

Excluding items, Vornado Realty Trust reported adjusted earnings of $31.68 million or $0.16 per share for the period.

Analysts on average had expected the company to earn $0.08 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 16.4% to $442.13 million from $379.98 million last year.

Vornado Realty Trust earnings at a glance (GAAP) :

-Earnings (Q1): $26.48 Mln. vs. $4.08 Mln. last year. -EPS (Q1): $0.14 vs. $0.02 last year. -Analyst Estimate: $0.08 -Revenue (Q1): $442.13 Mln vs. $379.98 Mln last year.