CBRE Group, Inc. Q2 Profit Increases, beats estimates

(RTTNews) - CBRE Group, Inc. (CBRE) revealed earnings for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $487.32 million, or $1.48 per share. This compares with $442.64 million, or $1.30 per share, in last year's second quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $604.12 million or $1.83 per share for the period.

Analysts on average had expected the company to earn $1.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 20.3% to $7.77 billion from $6.46 billion last year.

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

-Earnings (Q2): $487.32 Mln. vs. $442.64 Mln. last year. -EPS (Q2): $1.48 vs. $1.30 last year. -Analyst Estimate: $1.40 -Revenue (Q2): $7.77 Bln vs. $6.46 Bln last year.