CBRE: 2Q Earnings Snapshot
LOS ANGELES (AP) _ CBRE Group Inc. (CBRE) on Thursday reported second-quarter net income of $228.7 million.
The Los Angeles-based company said it had profit of 67 cents per share. Earnings, adjusted for one-time gains and costs, came to 74 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The provider of real estate investment management services posted revenue of $5.11 billion in the period.
CBRE expects full-year earnings in the range of $3.10 to $3.20 per share.
CBRE shares have climbed 15 percent since the beginning of the year. The stock has increased 32 percent in the last 12 months.