Hudson Pacific Properties Inc. reported wider losses after markets closed Monday, though the publicly traded real estate trust beat Wall Street expectations.
The Los Angeles firm reported a net loss of $5.7 million (10 cents a share) for the quarter ended Sept. 30, compared with a loss of $3.4 million (7 cents a share) for the same period last year. But the company also reported higher-than-expected funds from operations Analysts expected funds from operations of 22 cents a share, but the company reported 24 cents a share.
Hudson Pacific shares were down slightly Tuesday on the NYSE, closing at $20.68, less than 1 percent below Monday’s close.
Kennedy-Wilson Holdings Inc., another local real estate investment firm, also beat analysts’ expectations. The Beverly Hills company reported a loss for the quarter of $4.1 million (6 cents a share), compared with $6.2 million (11 cents a share) in the same quarter last year.
The company posted a big gain in revenue, reporting sales of $33 million in the most recent quarter, beating analysts’ expectations of about $22 million and more than doubling revenue from the same period last year.
Shares were up 2 percent to $20.35 in after-hours trading Tuesday on Nasdaq.
Beverly Hills concert promoter Live Nation Entertainment Inc. reported a big gain in revenue but lower net income for the quarter.
In earnings released after markets closed Tuesday, the company reported $2.3 billion in revenue, up 15 percent from the same quarter last year. But the company’s net income of $50 million represented a decline of 26 percent.
Live Nation shares were down 2.6 percent to $18.89 in after-hours trading Tuesday on the NYSE.