Public Storage Q3 Income Climbs, Beats estimates

(RTTNews) - Public Storage (PSA) announced a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $2.71 billion, or $15.38 per share. This compares with $442.33 million, or $2.52 per share, in last year's third quarter.

Analysts on average had expected the company to earn $2.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.5% to $1.09 billion from $0.89 billion last year.

Public Storage earnings at a glance (GAAP) :

-Earnings (Q3): $2.71 Bln. vs. $442.33 Mln. last year. -EPS (Q3): $15.38 vs. $2.52 last year. -Analyst Estimate: $2.73 -Revenue (Q3): $1.09 Bln vs. $0.89 Bln last year.