CBRE Group, Inc. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - CBRE Group, Inc. (CBRE) revealed a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $130 million, or $0.42 per share. This compares with $201 million, or $0.64 per share, in last year's second quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $248 million or $0.81 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.7% to $8.391 billion from $7.720 billion last year.

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

-Earnings (Q2): $130 Mln. vs. $201 Mln. last year. -EPS (Q2): $0.42 vs. $0.64 last year. -Revenue (Q2): $8.391 Bln vs. $7.720 Bln last year.

-Guidance: Full year EPS guidance: $4.70 to $4.90