Equity Residential Profit Retreats 2% In Q1

(RTTNews) - Equity Residential (EQR) announced earnings for first quarter that retreated compared to the same period last year.

The company said its profit came in at $283.72 million, or $0.74 per share. This was lower than $289.48 million, or $0.76 per share, in last year's first quarter.

The company said revenue for the quarter fell 2.4% to $604.10 million. This was down from $619.08 million last year.

Equity Residential earnings at a glance:

-Earnings (Q1): $283.72 Mln. vs. $289.48 Mln. last year. -Earnings Decline (Y-o-Y): -2.0% -EPS (Q1): $0.74 vs. $0.76 last year. -EPS Decline (Y-o-Y): -2.6% -Revenue (Q1): $604.10 Mln vs. $619.08 Mln last year. -Revenue Change (Y-o-Y): -2.4%

-Guidance: Next quarter EPS guidance: $0.51 to $0.55