Equity Residential Q3 Income Declines, but beats estimates

(RTTNews) - Equity Residential (EQR) announced a profit for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $322.25 million, or $0.86 per share. This compares with $431.18 million, or $1.15 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.35 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.5% to $695.10 million from $623.21 million last year.

Equity Residential earnings at a glance (GAAP) :

-Earnings (Q3): $322.25 Mln. vs. $431.18 Mln. last year. -EPS (Q3): $0.86 vs. $1.15 last year. -Analyst Estimates: $0.35 -Revenue (Q3): $695.10 Mln vs. $623.21 Mln last year.

-Guidance: Next quarter EPS guidance: $0.39 to $0.41 Full year EPS guidance: $2.02 to $2.04