GGP Ggp Inc. (delisted)

   By Allison Prang 
 

GGP Inc. (GGP) released its earnings results for its fourth quarter before the market opened Wednesday. Here's what you need to know.

PROFIT: Profit fell by 15% to $201.6 million, or 21 cents a share, compared to $236.5 million, or 24 cents a share, for the same period a year before. GGP's funds from operations was 48 cents a share compared to 43 cents a share a year ago. Analysts polled by FactSet were predicting 46 cents.

REVENUE: Revenue rose 2.8% to $627.4 million amid increases in minimum rent revenue and management fees. Revenue from tenant recoveries and overage rents both fell. Analysts were expecting revenue of $628.4 million.

EXPENSES: Total expenses rose 8.4% to $383.1 million, fueled by an increase in depreciation and amortization costs.

Shares fell 2.3% premarket and have fallen 7.7% so far this year.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

February 07, 2018 08:24 ET (13:24 GMT)

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