CBRE Group, Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - CBRE Group, Inc. (CBRE) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $116.89 million, or $0.37 per share. This compares with $392.30 million, or $1.16 per share, in last year's first quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $289.69 million or $0.92 per share for the period.

Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.1% to $7.41 billion from $7.33 billion last year.

CBRE Group, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $116.89 Mln. vs. $392.30 Mln. last year. -EPS (Q1): $0.37 vs. $1.16 last year. -Analyst Estimates: $0.86 -Revenue (Q1): $7.41 Bln vs. $7.33 Bln last year.