Vornado Realty Trust Q3 Profit Decreases, but beats estimates

(RTTNews) - Vornado Realty Trust (VNO) revealed a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $7.77 million, or $0.04 per share. This compares with $37.69 million, or $0.20 per share, in last year's third quarter.

Excluding items, Vornado Realty Trust reported adjusted earnings of $37.43 million or $0.19 per share for the period.

Analysts on average had expected the company to earn $0.10 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.8% to $457.43 million from $409.21 million last year.

Vornado Realty Trust earnings at a glance (GAAP) :

-Earnings (Q3): $7.77 Mln. vs. $37.69 Mln. last year. -EPS (Q3): $0.04 vs. $0.20 last year. -Analyst Estimates: $0.10 -Revenue (Q3): $457.43 Mln vs. $409.21 Mln last year.