Vornado Realty Trust Q1 Profit Decreases, but beats estimates

(RTTNews) - Vornado Realty Trust (VNO) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $5.17 million, or $0.03 per share. This compares with $26.48 million, or $0.14 per share, in last year's first quarter.

Excluding items, Vornado Realty Trust reported adjusted earnings of $2.37 million or $0.01 per share for the period.

Analysts on average had expected the company to earn -$0.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.9% to $445.92 million from $442.13 million last year.

Vornado Realty Trust earnings at a glance (GAAP) :

-Earnings (Q1): $5.17 Mln. vs. $26.48 Mln. last year. -EPS (Q1): $0.03 vs. $0.14 last year. -Analyst Estimates: -$0.06 -Revenue (Q1): $445.92 Mln vs. $442.13 Mln last year.