Simon Property Group Inc Q4 Profit Increases, beats estimates

(RTTNews) - Simon Property Group Inc (SPG) released a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $503.24 million, or $1.53 per share. This compares with $271.48 million, or $0.86 per share, in last year's fourth quarter.

Excluding items, Simon Property Group Inc reported adjusted earnings of $1.16 billion or $3.09 per share for the period.

Analysts on average had expected the company to earn $1.44 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.7% to $1.33 billion from $1.13 billion last year.

Simon Property Group Inc earnings at a glance (GAAP) :

-Earnings (Q4): $503.24 Mln. vs. $271.48 Mln. last year. -EPS (Q4): $1.53 vs. $0.86 last year. -Analyst Estimate: $1.44 -Revenue (Q4): $1.33 Bln vs. $1.13 Bln last year.