Vornado Realty Trust Q2 Profit Increases, beats estimates

(RTTNews) - Vornado Realty Trust (VNO) released earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $50.42 million, or $0.26 per share. This compares with $48.05 million, or $0.25 per share, in last year's second quarter.

Excluding items, Vornado Realty Trust reported adjusted earnings of $37.40 million or $0.19 per share for the period.

Analysts on average had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.7% to $453.49 million from $378.94 million last year.

Vornado Realty Trust earnings at a glance (GAAP) :

-Earnings (Q2): $50.42 Mln. vs. $48.05 Mln. last year. -EPS (Q2): $0.26 vs. $0.25 last year. -Analyst Estimate: $0.12 -Revenue (Q2): $453.49 Mln vs. $378.94 Mln last year.