Newmark Group Posts Narrower Loss In Q1

(RTTNews) - Commercial real estate advisor Newmark Group, Inc. (NMRK) Wednesday announced a narrower loss for the first quarter, despite 21.8 percent increase in revenues from the prior year.

The quarterly loss was $8.77 million, narrower than loss of $16.25 million a year ago. On a per share basis, loss was $0.05, compared to loss of $0.09 last year. On average, five analysts were looking for earnings of $0.19 per shares. Analysts estimates usually exclude special items.

Revenue for the first quarter increased to $665.49 million from $546.49 million a year ago. Wall Street expected revenue of $606.14 million.

Looking ahead to fiscal 2025, the company expects adjusted earnings growth in a range of $1.40 - $1.50 per share, up 14 to 22 percent year over year. Total revenue for the fiscal is projected to be between $2.90 and $3.10 billion, up 6 to 13 percent.