Company: HPP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001482512-25-000126
Chunk: 119

Company: Hudson Pacific Properties, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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,570 $174 $104,744 

50

The following table gives further detail on our change in NOI: 

Three Months Ended June 30, 2025 as compared to Three Months Ended June 30, 2024Same-StoreNon-Same-StoreTotalDollar ChangePercent ChangeDollar ChangePercent ChangeDollar ChangePercent ChangeRevenuesOfficeRental revenues$(14,546)(8.8)%$(7,517)(98.0)%$(22,063)(12.8)%Service and other revenues1,988 61.2 (131)(67.9)1,857 53.9 Total office revenues(12,558)(7.5)(7,648)(97.3)(20,206)(11.5)StudioRental revenues(408)(3.8)(144)(3.8)(552)(3.8)Service and other revenues(4,251)(44.1)(2,989)(16.7)(7,240)(26.3)Total studio revenues(4,659)(23.0)(3,133)(14.5)(7,792)(18.6)Total revenues(17,217)(9.1)(10,781)(36.5)(27,998)(12.8)Operating expensesOffice operating expenses(188)(0.3)(3,615)(90.6)(3,803)(5.1)Studio operating expenses(1,993)(15.8)593 2.3 (1,400)(3.7)Total operating expenses(2,181)(2.6)(3,022)(10.3)(5,203)(4.6)Office NOI(12,370)(12.8)(4,033)(104.2)(16,403)(16.3)Studio NOI(2,666)(34.6)(3,726)100.8 (6,392)(159.4)NOI$(15,036)(14.4)%$(7,759)(4,459.2)%$(22,795)(21.8)%

NOI decreased $22.8 million, or 21.8%, for the three months ended June 30, 2025 as compared to the three months ended June 30, 2024, primarily resulting from:

•a $15.0 million decrease in same-store NOI driven by:

•a decrease in office NOI of $12.4 million