Paramount Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 31, 2023 at 04:22 pm EDT
Share
Paramount Group, 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 165.51 million compared to USD 177.24 million a year ago. Revenue was USD 172.66 million compared to USD 185.52 million a year ago. Net loss was USD 47.54 million compared to USD 0.36 million a year ago. Basic loss per share from continuing operations was USD 0.22. Diluted loss per share from continuing operations was USD 0.22.
For the six months, sales was USD 347.22 million compared to USD 347.17 million a year ago. Revenue was USD 361.14 million compared to USD 369.2 million a year ago. Net loss was USD 45.81 million compared to net income of USD 3.01 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to diluted earnings per share from continuing operations of USD 0.01 a year ago.
Paramount Group, Inc. specializes in the holding and management of Class A office buildings in the United States.
At the end of 2022, the group's real estate portfolio, with a total rental area of 1,282,062 m2, amounted to USD 6.8 billion in market value.