Investing.com - Equity Residential (NYSE:EQR) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Equity Residential announced earnings per share of $0.83 on revenue of $682.33M. Analysts polled by Investing.com anticipated EPS of $0.33 on revenue of $686.26M. That with comparison to EPS of $0.28 on revenue of $662.49M in the same period a year before.Equity Residential had reported EPS of $0.77 on revenue of $683.92M in the previous quarter.Analysts are expecting EPS of $0.33 and revenue of $677.58M in the upcoming quarter.
Equity Residential shares are down 22% from the beginning of the year and are trading at $62.41 , down-from-52-week-high.They are under-performing the S&P 500 which is down 11.6% year to date.
Equity Residential follows other major Services sector earnings this month
Equity Residential'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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