General Growth second-quarter profit beats Wall St's estimate
NEW YORK, July 29
NEW YORK, July 29 (Reuters) - General Growth Properties Inc on Monday reported a 17 percent increase in a key measure of quarterly profit, beating Wall Street's expectations, on higher rents, occupancy and sales at its malls.
The company posted second-quarter funds from operations (FFO) of $267 million, or 27 cents per share, compared with $228 million, or 23 cents per share, in the year-earlier quarter.
Analysts on average expected FFO of 25 cents per share, according to Thomson Reuters I/B/E/S, and the company had forecast 24 cents to 26 cents per share.