Douglas Emmett, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 02:21 am IST
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Douglas Emmett, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 222.08 million compared to USD 218.05 million a year ago. Revenue was USD 253.41 million compared to USD 246.97 million a year ago. Net loss was USD 7.26 million compared to net income of USD 24.37 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to basic earnings per share from continuing operations of USD 0.14 a year ago. Diluted loss per share from continuing operations was USD 0.04.
For the six months, sales was USD 442.4 million compared to USD 429.7 million a year ago. Revenue was USD 505.8 million compared to USD 485.85 million a year ago. Net income was USD 11.11 million compared to USD 49.89 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to USD 0.28 a year ago.
Douglas Emmett, Inc. is a fully integrated, self-administered and self-managed REIT. The Company owns and operates office and multifamily properties located in premier coastal submarkets in Los Angeles and Honolulu. The Company's properties are located in the Beverly Hills, Brentwood, Burbank, Century City, Olympic Corridor, Santa Monica, Sherman Oaks/Encino, Warner Center/Woodland Hills and Westwood submarkets of Los Angeles County, California, and in Honolulu, Hawaii. The Company operates through two segments: the office segment and the multifamily segment. The Company's segments include the acquisition, development, ownership and management of office and multifamily real estate. The services of its office segment include primarily the rental of office space and other tenant services, including parking and storage space rental. The services of its multifamily segment include primarily the rental of apartments and other tenant services, including parking and storage space rental.
DOUGLAS EMMETT, INC. 
