ProLogis Q4 Profit Increases, beats estimates

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

The company's earnings totaled $1.25 billion, or $1.67 per share. This compares with $0.28 billion, or $0.38 per share, in last year's fourth quarter.

Excluding items, ProLogis reported adjusted earnings of $860.30 million or $1.12 per share for the period.

Analysts on average had expected the company to earn $0.60 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 15.3% to $1.28 billion from $1.11 billion last year.

ProLogis earnings at a glance (GAAP) :

-Earnings (Q4): $1.25 Bln. vs. $0.28 Bln. last year. -EPS (Q4): $1.67 vs. $0.38 last year. -Analyst Estimate: $0.60 -Revenue (Q4): $1.28 Bln vs. $1.11 Bln last year.