CBRE Group, Inc. Q2 Profit Decreases, but beats estimates

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

The company's earnings totaled $201.40 million, or $0.64 per share. This compares with $487.32 million, or $1.48 per share, in last year's second quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $257.99 million or $0.82 per share for the period.

Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.6% to $7.72 billion from $7.77 billion last year.

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

-Earnings (Q2): $201.40 Mln. vs. $487.32 Mln. last year. -EPS (Q2): $0.64 vs. $1.48 last year. -Analyst Estimates: $0.76 -Revenue (Q2): $7.72 Bln vs. $7.77 Bln last year.