Apartment Investment & Management Co. (AIV) experienced an increase in its third-quarter loss compared to the same period the previous year. The company reported a net loss of $21.94 million, or $0.16 per share, as opposed to a loss of $2.26 million, or $0.02 per share, during the third quarter of last year.
Despite the increase in losses, the company's revenue for the quarter rose significantly by 23.2%, reaching $54.63 million, up from $44.33 million in the previous year.
For a quick overview of Apartment Investment & Management Co.'s earnings according to GAAP:
- Third-quarter earnings were a loss of $21.94 million, compared to last year's loss of $2.26 million.
- Earnings per share (EPS) in the third quarter were a deficit of $0.16, compared to a deficit of $0.02 in the previous year.
- Third-quarter revenue increased to $54.63 million from $44.33 million a year ago.
**Guidance**: For the full year, the EPS is projected to be between a loss of $0.82 and $0.77.
