CBRE: 4Q Earnings Snapshot
LOS ANGELES (AP) _ CBRE Group Inc. (CBRE) on Wednesday reported fourth-quarter earnings of $393.8 million.
On a per-share basis, the Los Angeles-based company said it had profit of $1.15. Earnings, adjusted for one-time gains and costs, came to $1.21 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The provider of real estate investment management services posted revenue of $6.29 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $5.94 billion.
For the year, the company reported profit of $1.06 billion, or $3.10 per share. Revenue was reported as $21.34 billion.
CBRE shares have climbed 19 percent since the beginning of the year. The stock has increased 11 percent in the last 12 months.