Investing.com - Simon Property (NYSE:SPG) reported on Monday first quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Simon Property announced earnings per share of $1.43 on revenue of $1.35B. Analysts polled by Investing.com anticipated EPS of $1.56 on revenue of $1.33B. That with comparison to EPS of $1.78 on revenue of $1.45B in the same period a year before. Simon Property had reported EPS of $1.66 on revenue of $1.49B in the previous quarter. Analysts are expecting EPS of $1.58 and revenue of $1.22B in the upcoming quarter.
Simon Property shares are down 63% from the beginning of the year , still down 69.04% from its 52 week high of $177.93 set on May 15, 2019. They are under-performing the S&P 500 which is down 9.69% year to date.
Simon Property shares gained 3.09% in after-hours trade following the report.
Simon Property follows other major Services sector earnings this month
Simon Property's report follows an earnings missed by Amazon.com on April 30, who reported EPS of $5.01 on revenue of $75.45B, compared to forecasts EPS of $6.16 on revenue of $73.74B.
Visa A had beat expectations on April 30 with second quarter EPS of $1.39 on revenue of $5.85B, compared to forecast for EPS of $1.34 on revenue of $5.72B.
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