Simon Property Group's (SPG) net income increased in the second quarter.
Continue Reading Below
Earnings and Revenue
The company experienced stronger-than-expected EPS and revenues. The company reported EPS of $1.89 a share versus the $1.80 a share estimate and revenues of $1.19 billion versus the $1.15 billion estimate. The company's reported EPS came in above the high estimate of 15 analysts of a profit of $1.85.
The company's net income for the quarter rose 18.1% to $688.8 million. Revenue climbed 14.1% from $1.07 billion in the same period last year.
History Against Expectations
The company has now topped analyst estimates for at least the last four quarters. It beat by 15 cents in the first quarter, one cent in the fourth quarter of the last fiscal year and 4 cents in the third quarter of the last fiscal year.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.