ProLogis Q4 Profit Decreases, but beats estimates

(RTTNews) - ProLogis (PLD) revealed a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $0.59 billion, or $0.63 per share. This compares with $1.25 billion, or $1.67 per share, in last year's fourth quarter.

Excluding items, ProLogis reported adjusted earnings of $1.18 billion or $1.24 per share for the period.

Analysts on average had expected the company to earn $0.56 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 36.7% to $1.75 billion from $1.28 billion last year.

ProLogis earnings at a glance (GAAP) :

-Earnings (Q4): $0.59 Bln. vs. $1.25 Bln. last year. -EPS (Q4): $0.63 vs. $1.67 last year. -Analyst Estimates: $0.56 -Revenue (Q4): $1.75 Bln vs. $1.28 Bln last year.