Hudson Pacific: Q1 Earnings Snapshot

LOS ANGELES (AP) — LOS ANGELES (AP) — Hudson Pacific Properties Inc. (HPP) on Thursday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.

The Los Angeles-based real estate investment trust said it had funds from operations of $16.5 million, or 25 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 18 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $53.1 million, or 82 cents per share.

The real estate investment trust, based in Los Angeles, posted revenue of $181.9 million in the period.

Hudson Pacific expects full-year funds from operations in the range of $1.10 to $1.18 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HPP at https://www.zacks.com/ap/HPP