Equity Residential Q4 Profit Declines, but beats estimates

(RTTNews) - Equity Residential (EQR) released earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $158.25 million, or $0.42 per share. This compares with $526.20 million, or $1.40 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.5% to $699.70 million from $645.13 million last year.

Equity Residential earnings at a glance (GAAP) :

-Earnings (Q4): $158.25 Mln. vs. $526.20 Mln. last year. -EPS (Q4): $0.42 vs. $1.40 last year. -Analyst Estimates: $0.38 -Revenue (Q4): $699.70 Mln vs. $645.13 Mln last year.