ProLogis Q2 Profit Increases, beats estimates

(RTTNews) - ProLogis (PLD) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $610 million, or $0.82 per share. This compares with $599 million, or $0.81 per share, in last year's second quarter.

Excluding items, ProLogis reported adjusted earnings of $805 million or $1.11 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.7% to $1.25 billion from $1.15 billion last year.

ProLogis earnings at a glance (GAAP) :

-Earnings (Q2): $610 Mln. vs. $599 Mln. last year. -EPS (Q2): $0.82 vs. $0.81 last year. -Analyst Estimate: $0.62 -Revenue (Q2): $1.25 Bln vs. $1.15 Bln last year.

-Guidance: Full year EPS guidance: $5.15 to $5.25