Apartment Investment & Management Co. Q2 adjusted earnings Beat Estimates

(RTTNews) - Apartment Investment & Management Co. (AIV) reported a profit for second quarter that declined from last year.

The company's profit totaled $39.21 million, or $0.26 per share. This compares with $59.23 million, or $0.40 per share, in last year's second quarter.

Analysts had expected the company to earn $0.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.4% to $218.81 million from $224.20 million last year.

Apartment Investment & Management Co. earnings at a glance:

-EPS (Q2): $0.55 vs. $0.51 last year. -Analysts Estimate: $0.02 -Revenue (Q2): $218.81 Mln vs. $224.20 Mln last year.