DALLAS (AP) — DALLAS (AP) — CBRE Group Inc. (CBRE) on Thursday reported fourth-quarter net income of $81.1 million.
On a per-share basis, the Dallas-based company said it had net income of 25 cents. Earnings, adjusted for one-time gains and costs, came to $1.33 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.19 per share.
The provider of real estate investment management services posted revenue of $8.19 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $8.13 billion.
For the year, the company reported profit of $1.41 billion, or $4.29 per share. Revenue was reported as $30.83 billion.
CBRE shares have climbed 12% since the beginning of the year. The stock has decreased 13% in the last 12 months.
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