BXP beats quarterly revenue estimates on strong leasing demand

BXP

28/10/2025 21:04

Oct 28 (Reuters) - Real estate investment trust BXP BXP.N, formerly known as Boston Properties, on Tuesday beat Wall Street estimates for third-quarter revenue, driven by strong leasing trends as companies expand workspace.

Shares of the company, which operates in six major U.S. markets including New York and San Francisco, rose 3% in after-hours trading.

The company's revenue was $871.5 million in the quarter, beating analysts' average estimate of $855.3 million, according to data compiled by LSEG.

As companies cut down on their work from home policy implemented during the pandemic, the demand for office spaces have risen, especially in major U.S. cities like San Francisco, Los Angeles and New York City.

The company reported funds from operations (FFO) — a key measure of a REIT's performance — of $1.74 per share for the quarter ended September 30, compared with $1.81 per share a year earlier.

BXP posted a loss per share of 77 cents for the third quarter, compared with a profit of 53 cents a year ago.

 (Reporting by Parth Chandna and Anshuman Tripathy; Editing by Maju Samuel)

 ((Parth.Chandna@thomsonreuters.com;))