TORONTO (AP) — TORONTO (AP) — Colliers International Group Inc. (CIGI) on Thursday reported fourth-quarter profit of $22.5 million.
The Toronto-based company said it had profit of 51 cents per share. Earnings, adjusted for one-time gains and costs, were $2.31 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $2.32 per share.
The commercial real estate services provider posted revenue of $1.22 billion in the period.
For the year, the company reported net income of $46.3 million, or $1.05 per share, swinging to a profit in the period. Revenue was reported as $4.46 billion.
Colliers International expects full-year earnings in the range of $7.50 to $8 per share, with revenue in the range of $4.6 billion to $4.8 billion.
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