CBRE Group, Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - CBRE Group, Inc. (CBRE) announced earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $190.55 million, or $0.61 per share. This compares with $446.64 million, or $1.38 per share, in last year's third quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $225.93 million or $0.72 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.5% to $7.87 billion from $7.53 billion last year.

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

-Earnings (Q3): $190.55 Mln. vs. $446.64 Mln. last year. -EPS (Q3): $0.61 vs. $1.38 last year. -Analyst Estimates: $0.67 -Revenue (Q3): $7.87 Bln vs. $7.53 Bln last year.