Simon Property Group Inc Q3 adjusted earnings Beat Estimates

(RTTNews) - Simon Property Group Inc (SPG) reported a profit for third quarter that decreased from last year.

The company's earnings totaled $145.93 million, or $0.48 per share. This compares with $544.25 million, or $1.77 per share, in last year's third quarter.

Excluding items, Simon Property Group Inc reported adjusted earnings of $0.72 billion or $2.05 per share for the period.

Analysts had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 25.4% to $1.06 billion from $1.42 billion last year.

Simon Property Group Inc earnings at a glance:

-Earnings (Q3): $0.72 Bln. vs. $1.08 Bln. last year. -EPS (Q3): $2.05 vs. $3.05 last year. -Analysts Estimate: $0.90 -Revenue (Q3): $1.06 Bln vs. $1.42 Bln last year.