Vornado Realty Trust Q2 Profit Drops 29%

(RTTNews) - Vornado Realty Trust (VNO) released earnings for second quarter that declined compared to the same period last year.

The company said its bottom line fell to $229.4 million, or $1.21 per share. This was down from $323.4 million, or $1.71 per share, in last year's second quarter.

Analysts had expected the company to earn $1.27 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.9% to $621.79 million. This was up from $616.29 million last year.

Vornado Realty Trust earnings at a glance:

-Earnings (Q2): $229.4 Mln. vs. $323.4 Mln. last year. -Earnings Decline (Y-o-Y): -29.1% -EPS (Q2): $1.21 vs. $1.71 last year. -EPS Decline (Y-o-Y): -29.2% -Analysts Estimate: $1.27 -Revenue (Q2): $621.79 Mln vs. $616.29 Mln last year. -Revenue Change (Y-o-Y): 0.9%