Newmark Group Inc. Q2 Profit Increases, Beats Estimates

(RTTNews) - Newmark Group Inc. (NMRK) released a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $20.58 million, or $0.08 per share. This compares with $8.85 million, or $0.04 per share, in last year's second quarter.

Excluding items, Newmark Group Inc. reported adjusted earnings of $0.22 per share for the period.

Analysts on average had expected the company to earn $0.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.1% to $633.38 million from $585.84 million last year.

Newmark Group Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $20.58 Mln. vs. $8.85 Mln. last year. -EPS (Q2): $0.08 vs. $0.04 last year. -Revenue (Q2): $633.38 Mln vs. $585.84 Mln last year.