CBRE Group, Inc. Q3 Profit Increases, but misses estimates

(RTTNews) - CBRE Group, Inc. (CBRE) released a profit for its third quarter that increased from the same period last year but missed the Street estimates.

The company's bottom line came in at $446.64 million, or $1.38 per share. This compares with $435.74 million, or $1.28 per share, in last year's third quarter.

Excluding items, CBRE Group, Inc. reported adjusted earnings of $365.35 million or $1.13 per share for the period.

Analysts on average had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.8% to $7.529 billion from $6.798 billion last year.

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

-Earnings (Q3): $446.64 Mln. vs. $435.74 Mln. last year. -EPS (Q3): $1.38 vs. $1.28 last year. -Analyst Estimate: $1.26 -Revenue (Q3): $7.529 Bln vs. $6.798 Bln last year.