Public Storage Reports Climb In Q1 Bottom Line, Beats estimates

(RTTNews) - Public Storage (PSA) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $464.12 million, or $2.63 per share. This compares with $385.81 million, or $2.21 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 26.9% to $973.45 million from $767.26 million last year.

Public Storage earnings at a glance (GAAP) :

-Earnings (Q1): $464.12 Mln. vs. $385.81 Mln. last year. -EPS (Q1): $2.63 vs. $2.21 last year. -Analyst Estimate: $2.32 -Revenue (Q1): $973.45 Mln vs. $767.26 Mln last year.