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Here's What Key Metrics Tell Us About Hudson Pacific (HPP) Q1 Earnings

Hudson Pacific Properties (HPP) reported $214.02 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 15.2%. EPS of $0.17 for the same period compares to -$0.14 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $220.61 million, representing a surprise of -2.98%. The company delivered an EPS surprise of +6.25%, with the consensus EPS estimate being $0.16.

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.

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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: $171.43 million compared to the $183.32 million average estimate based on three analysts. The reported number represents a change of -15.4% year over year.

  • Revenues- Studio - Rental: $13.60 million versus the three-analyst average estimate of $13.08 million. The reported number represents a year-over-year change of -16.3%.

  • Revenues- Studio - Service revenues and other: $25.35 million versus the three-analyst average estimate of $21.64 million. The reported number represents a year-over-year change of -13.7%.

  • Revenues- Studio - Total: $38.95 million versus $34.72 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -14.6% change.

  • Revenues- Office - Total: $175.08 million versus $184.15 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -15.3% change.

  • Revenues- Office - Service revenues and other: $3.65 million versus $4 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -8.3% change.

  • Net Earnings Per Share (Diluted): -$0.37 versus -$0.45 estimated by three analysts on average.

View all Key Company Metrics for Hudson Pacific here>>>

Shares of Hudson Pacific have returned -6.3% over the past month versus the Zacks S&P 500 composite's -4.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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