Public Storage Bottom Line Climbs In Q1, but misses estimates

(RTTNews) - Public Storage (PSA) revealed a profit for its first quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line came in at $467.59 million, or $2.65 per share. This compares with $464.12 million, or $2.63 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.69 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.4% to $1.09 billion from $0.97 billion last year.

Public Storage earnings at a glance (GAAP) :

-Earnings (Q1): $467.59 Mln. vs. $464.12 Mln. last year. -EPS (Q1): $2.65 vs. $2.63 last year. -Analyst Estimate: $2.69 -Revenue (Q1): $1.09 Bln vs. $0.97 Bln last year.