Hudson Pacific Properties, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 01, 2023 at 09:00 pm
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Hudson Pacific Properties, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 213.12 million compared to USD 224.08 million a year ago. Revenue was USD 231.44 million compared to USD 260.35 million a year ago. Net loss was USD 32.4 million compared to USD 11.79 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to USD 0.12 a year ago.
For the nine months, sales was USD 651.89 million compared to USD 668.94 million a year ago. Revenue was USD 728.87 million compared to USD 756.3 million a year ago. Net loss was USD 77.74 million compared to USD 27.78 million a year ago. Basic loss per share from continuing operations was USD 0.67 compared to USD 0.31 a year ago. Diluted loss per share from continuing operations was USD 0.67 compared to USD 0.31 a year ago.
Hudson Pacific Properties, Inc. is a real estate investment trust serving technology and media tenants. The Company acquires, repositions, develops and operates sustainable office and studio properties in high-barrier-to-entry technology and media epicenters. The Company's segments include office segment and studio segment. The Company's portfolio includes office properties, studio properties, land properties and production services assets. Its studio properties comprise of approximately 48 stages, sound stages and production-supporting office, and other facilities. Its land properties comprise of undeveloped density rights for future office, studio and residential space. The Company's production services assets comprise of vehicles, lighting and grip, production supplies and other equipment and the lease rights to an additional approximately 27 sound stages. It owns real estate in California, the Pacific Northwest, Western Canada and Greater London, United Kingdom.