DALLAS (AP) — DALLAS (AP) — CBRE Group Inc. (CBRE) on Friday reported first-quarter earnings of $126 million.
The Dallas-based company said it had profit of 41 cents per share. Earnings, adjusted for non-recurring costs, came to 78 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.
The provider of real estate investment management services posted revenue of $7.94 billion in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $8.07 billion.
CBRE shares have dropped roughly 7% since the beginning of the year. The stock has increased 16% 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
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