DALLAS (AP) — DALLAS (AP) — CBRE Group Inc. (CBRE) on Thursday reported second-quarter profit of $130 million.
The Dallas-based company said it had profit of 42 cents per share. Earnings, adjusted for non-recurring costs, were 81 cents per share.
The results exceeded Wall Street expectations. The average estimate of four 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 $8.39 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $8.52 billion.
CBRE expects full-year earnings in the range of $4.70 to $4.90 per share.
CBRE shares have risen almost 6% since the beginning of the year. The stock has climbed 13% in the last 12 months.
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