Investing.com - AvalonBay reported on Wednesday first quarter earnings that matched analysts' forecasts and revenue that fell short of expectations.
AvalonBay announced earnings per share of $1.19 on revenue of $547.5M. Analysts polled by Investing.com anticipated EPS of $1.19 on revenue of $597.77M. That with comparison to EPS of $1.23 on revenue of $565.04M in the same period a year before.AvalonBay had reported EPS of $1.2 on revenue of $592.09M in the previous quarter.Analysts are expecting EPS of $1.14 and revenue of $590.79M in the upcoming quarter.
AvalonBay shares are down 25% from the beginning of the year and are trading at $156.80 , down-from-52-week-high.They are under-performing the S&P 500 which is down 12.21% year to date.
AvalonBay follows other major Services sector earnings this month
AvalonBay's report follows an earnings missed by Amazon.com on Thursday, April 30, 2020, 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 Thursday, April 30, 2020 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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