WASHINGTON (dpa-AFX) - CBRE Group, Inc. (CBRE) announced a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $81.11 million, or $0.25 per share. This compares with $691.99 million, or $2.04 per share, in last year's fourth quarter.
Excluding items, CBRE Group, Inc. reported adjusted earnings of $424.41 million or $1.33 per share for the period.
Analysts on average had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 4.2% to $8.19 billion from $8.55 billion last year.
CBRE Group, Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $81.11 Mln. vs. $691.99 Mln. last year. -EPS (Q4): $0.25 vs. $2.04 last year. -Analyst Estimates: $1.18 -Revenue (Q4): $8.19 Bln vs. $8.55 Bln last year.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX