July 29, 2013 / 9:13 PM / in 4 years

General Growth second-quarter profit beats Wall St's estimate

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.

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