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CBRE: 3Q Earnings Snapshot

November 6, 2019 GMT

LOS ANGELES (AP) _ CBRE Group Inc. (CBRE) on Wednesday reported third-quarter profit of $256.6 million.

The Los Angeles-based company said it had net income of 75 cents per share. Earnings, adjusted for non-recurring costs, came to 79 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The provider of real estate investment management services posted revenue of $5.93 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $5.73 billion.

CBRE expects full-year earnings in the range of $3.70 to $3.80 per share.

CBRE shares have increased 39% since the beginning of the year. The stock has climbed 33% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBRE at https://www.zacks.com/ap/CBRE