For the quarter ended June 2024, Hudson Pacific Properties (HPP) reported revenue of $218 million, down 11.1% over the same period last year. EPS came in at $0.17, compared to -$0.26 in the year-ago quarter.
The reported revenue represents a surprise of +1.19% over the Zacks Consensus Estimate of $215.43 million. With the consensus EPS estimate being $0.17, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Hudson Pacific performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
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Revenues- Office - Rental
: $172.60 million compared to the $170.01 million average estimate based on three analysts. The reported number represents a change of -15.2% year over year.
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Revenues- Studio - Rental
: $14.44 million compared to the $14.34 million average estimate based on three analysts. The reported number represents a change of -11.8% year over year.
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Revenues- Studio - Service revenues and other
: $27.52 million compared to the $26.77 million average estimate based on three analysts. The reported number represents a change of +28% year over year.
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Revenues- Studio - Total
: $41.96 million compared to the $41.11 million average estimate based on three analysts. The reported number represents a change of +10.8% year over year.
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Revenues- Office - Total
: $176.04 million versus the two-analyst average estimate of $174.22 million. The reported number represents a year-over-year change of -15.1%.
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Revenues- Office - Service revenues and other
: $3.44 million versus $3.61 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -9.5% change.
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Net Earnings Per Share (Diluted)
: -$0.33 versus the four-analyst average estimate of -$0.37.
View all Key Company Metrics for Hudson Pacific here>>>
Shares of Hudson Pacific have returned +6.2% over the past month versus the Zacks S&P 500 composite's -5.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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