Hudson Pacific (HPP) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2023, Hudson Pacific Properties (HPP) reported revenue of $245.17 million, down 2.5% over the same period last year. EPS came in at $0.24, compared to -$0.05 in the year-ago quarter.
The reported revenue represents a surprise of +3.17% over the Zacks Consensus Estimate of $237.63 million. With the consensus EPS estimate being $0.23, the EPS surprise was +4.35%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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:
Revenues- Office - Rental: $203.49 million versus $204.05 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -3.9% change.
Revenues- Office - Service revenues and other: $3.81 million versus the two-analyst average estimate of $3.97 million. The reported number represents a year-over-year change of -13.7%.
Revenues- Studio - Total: $37.88 million compared to the $29.27 million average estimate based on two analysts. The reported number represents a change of +7.7% year over year.
Revenues- Studio - Service revenues and other: $21.50 million versus the two-analyst average estimate of $12.70 million. The reported number represents a year-over-year change of -1.1%.
Revenues- Office - Total: $207.29 million compared to the $206.03 million average estimate based on two analysts. The reported number represents a change of -4.1% year over year.
Revenues- Studio - Rental: $16.37 million versus $16.58 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +21.9% change.
Net Earnings Per Share (Diluted): -$0.26 compared to the -$0.30 average estimate based on three analysts.
View all Key Company Metrics for Hudson Pacific here>>>
Shares of Hudson Pacific have returned +29.6% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Hudson Pacific Properties, Inc. (HPP) : Free Stock Analysis Report
