Equity Residential Q2 adjusted earnings Beat Estimates

(RTTNews) - Equity Residential (EQR) reported earnings for second quarter that declined from the same period last year.

The company's earnings totaled $260.12 million, or $0.70 per share. This compares with $308.20 million, or $0.83 per share, in last year's second quarter.

Excluding items, Equity Residential reported adjusted earnings of $330.28 million or $0.86 per share for the period.

Analysts had expected the company to earn $0.36 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.4% to $653.53 million from $669.37 million last year.

Equity Residential earnings at a glance:

-Earnings (Q2): $330.28 Mln. vs. $331.72 Mln. last year. -EPS (Q2): $0.86 vs. $0.86 last year. -Analysts Estimate: $0.36 -Revenue (Q2): $653.53 Mln vs. $669.37 Mln last year.