Vornado Realty Trust Reports 8% Decline In Q1 Earnings

(RTTNews) - Vornado Realty Trust (VNO) reported earnings for first quarter that lost ground from last year.

The company said its earnings dropped to $203.14 million, or $1.07 per share. This was lower than $220.08 million, or $1.16 per share, in last year's first quarter.

Analysts had expected the company to earn $1.22 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 1.0% to $613.04 million. This was up from $606.80 million last year.

Vornado Realty Trust earnings at a glance:

-Earnings (Q1): $203.14 Mln. vs. $220.08 Mln. last year. -Earnings Decline (Y-o-Y): -7.7% -EPS (Q1): $1.07 vs. $1.16 last year. -EPS Decline (Y-o-Y): -7.8% -Analysts Estimate: $1.22 -Revenue (Q1): $613.04 Mln vs. $606.80 Mln last year. -Revenue Change (Y-o-Y): 1.0%