By Waverly Colville 
 

Public Storage (PSA)'s net income rose by 26% compared to last year's quarter, as revenue increased 3.2%, the company reported Wednesday.

The storage company' net income was $348.3 million, or $2 a share, up from $276.7 million, or $1.59 a share, a year earlier. The company's funds from operations, which adjusted for items like depreciation and gains on sale, was $2.65 a share, beating the $2.61 expected by analysts polled by FactSet.

Revenue rose to $685.5 million from $664.3 last year.

Shares fell 0.7% during post-market trading Wednesday.

 

Write to Waverly Colville at waverly.colville@wsj.com

 

(END) Dow Jones Newswires

August 01, 2018 17:39 ET (21:39 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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