Logistics warehouse operator Prologis beat second-quarter estimates Wednesday, reporting core funds from operations (FFO) of $1.34 per share, which was 1 cent ahead of the consensus expectation. The company said demand is improving in what it categorized as an “uncertain macroeconomic environment.”
Rental revenue increased 12% year over year to $1.85 billion while consolidated revenue fell 18% year over year to $2 billion. The decline in consolidated revenue was attributable to an 80% drop in...