Investing.com - Equity Residential (NYSE:EQR) reported on Tuesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Equity Residential announced earnings per share of $0.24 on revenue of $622.4M. Analysts polled by Investing.com anticipated EPS of $0.3 on revenue of $640.79M.
Equity Residential shares are down 38% from the beginning of the year, still down 44.49% from its 52 week high of $89.55 set on October 31, 2019. They are under-performing the S&P 500 which is up 4.95% from the start of the year.
Equity Residential shares lost 2.80% in after-hours trade following the report.
Equity Residential follows other major Services sector earnings this month
Equity Residential's report follows an earnings beat by Verizon on October 21, who reported EPS of $1.25 on revenue of $31.5B, compared to forecasts EPS of $1.22 on revenue of $31.59B.
Netflix had missed expectations on October 20 with third quarter EPS of $1.74 on revenue of $6.44B, compared to forecast for EPS of $2.13 on revenue of $6.39B.
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