8-K earnings — Q2 FY26

BXP reported FFO of $1.62 per share, beating consensus of $1.57 by $0.05 (3.2%). Revenue of $835M was in line with expectations, driven by strong leasing momentum in gateway markets. The key nuance: the beat was purely operating, not from one-time gains, as same-store NOI grew 2.8% YoY and portfolio occupancy ticked up 30bps to 88.5%.

BXP reported FFO of $1.62 per share, beating consensus of $1.57 by $0.05 (3.2%). Revenue of $835M was in line with expectations, driven by strong leasing momentum in gateway markets. The key nuance: the beat was purely operating, not from one-time gains, as same-store NOI grew 2.8% YoY and portfolio occupancy ticked up 30bps to 88.5%.